Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $4.30 for 2025, which is the top of the guidance range and represents a 6% increase from the previous year and a 9% average annual growth from 2023 [5][6] - This marks the 11th consecutive year of achieving adjusted earnings results at or above the annual guidance range [6] - Weather-normalized total retail electricity sales increased by 1.7% compared to 2024, significantly higher than the cumulative growth seen over the last decade [7][8] Business Line Data and Key Metrics Changes - Georgia Power saw a 2.5% growth in electricity sales from 2024, with all customer classes showing positive growth [8] - Commercial sales were particularly strong, with a 17% year-over-year increase driven by large load data center customers [8] - Industrial electricity sales grew by 1.4% in 2025, with gains in primary metals, lumber, paper, and transportation segments [9] Market Data and Key Metrics Changes - The company is experiencing robust economic development activity, with over 120 companies either locating new facilities or expanding operations in its service territories, expected to create over 21,000 new jobs [10][11] - The total large load pipeline has increased to over 75 GW, with 26 signed contracts representing 10 GW of fully contracted electric service agreements [19] Company Strategy and Development Direction - The company is focused on sustainable growth through significant investments in energy infrastructure, with a capital investment forecast of $81 billion over the next five years, primarily at state-regulated utilities [25][26] - The strategy includes an "all-of-the-above" approach to energy sourcing, incorporating natural gas, battery energy storage, and other resources to meet growth opportunities [50][101] - The company aims to maintain a disciplined approach to pricing large load contracts, ensuring benefits for existing customers while capturing growth [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve long-term growth, projecting adjusted EPS growth of 7%-9% from 2026 through 2028 [34] - The company anticipates retail electric sales to grow at least 3% in 2026, with an average annual growth of 10% projected from 2026 to 2030 [18] - Management highlighted the importance of regulatory frameworks that allow for flexible pricing and contract negotiations with large load customers [22] Other Important Information - The company has a strong dividend track record, having increased dividends for 24 consecutive years, with projections for continued modest increases in the future [32] - The company is committed to maintaining strong investment-grade credit ratings while addressing $9 billion of equity needs through various financing strategies [29][30] Q&A Session Summary Question: Insights on the long-term growth outlook beyond 2028 - Management emphasized the disciplined approach to setting expectations and the confidence derived from the current project pipeline and economic expansion [46][48] Question: Details on the 3 GW load and its impact on the current plan - Management confirmed that the 3 GW contracts are included in the current forecast and are expected to be signed imminently [57][58] Question: Clarification on the data center growth and zoning issues - Management expressed confidence in the progress of data center projects and the continued growth of the pipeline despite legislative discussions [84][86]

Financial Data and Key Metrics Changes - In 2025, the company achieved record revenue of $1 billion, operating cash flow of $705 million, and earnings of $466 million, representing increases of 43%, 33%, and 40% respectively compared to 2024 [4] - Adjusted net income reached a record $510 million, a 47% increase over 2024 [4] - The adjusted EBITDA margin was maintained at 82% for the year, supported by strong gold prices and stable cash G&A [5] Business Line Data and Key Metrics Changes - Gold contributed 78% of total revenue for the year, with significant revenue growth from the stream segment, which increased over 110% year-over-year to $265 million [10][18] - Royalty revenue for the fourth quarter was up 42% year-over-year to $111 million, driven by strong performance from the Cortez CC zone and Peñasquito [10] Market Data and Key Metrics Changes - Metal prices significantly impacted revenue, with gold prices up 55%, silver up 74%, and copper up 21% compared to the prior year [18] - The company expects its revenue mix to remain consistent post-acquisition, maintaining the highest gold revenue percentage among large-cap peers in the royalty and streaming sector [18] Company Strategy and Development Direction - The company completed several acquisitions, including Sandstorm Gold and Horizon Copper, to diversify and strengthen its portfolio [5][6] - The integration of the Sandstorm and Horizon portfolios is largely complete, with a focus on rationalizing and simplifying operations [7] - The company plans to host an investor day on March 31st to provide context for 2025 activities and guidance for 2026 [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying portfolio's performance and indicated that the unusual items affecting financial results are now behind them [29] - The company anticipates a steady state beginning with the first quarter results of 2026, with expectations for continued strong performance [26][29] Other Important Information - The company paid over $118 million in dividends during the year and raised its annual dividend to $1.90 per share for 2026, marking the 25th consecutive annual dividend increase [5] - The company ended 2025 with outstanding debt of $900 million, which is expected to be fully repaid by early 2027, earlier than previously forecasted [27] Q&A Session Summary Question: What does the deal pipeline look like currently? - Management indicated that the deal pipeline remains strong, with ongoing activity despite market volatility, and noted that there are opportunities in both base metal projects and primary gold assets [31][34] Question: Regarding Hod Maden, what is the company's involvement in discussions about the construction decision? - Management confirmed satisfaction with the technical report and indicated active involvement in discussions with SSR Mining regarding development strategy and spending [41][46] Question: Can you elaborate on the potential conversion of the Mara option into a gold stream? - The company can convert a small royalty into a 20% gold stream by investing approximately $225 million over the construction period, with strong economic incentives to proceed [47] Question: Why doesn't the company provide preliminary royalty revenue expectations? - Management explained that information rights limit their ability to provide estimates until after operators report their results, which can be 15 to 45 days post-quarter end [56][59] Question: What is the company's strategy regarding capital allocation and potential transactions? - Management stated that finding good investments remains a priority, and they are open to transactions in the $100 million to $500 million range, while also considering larger opportunities [78][81]

Financial Data and Key Metrics Changes - The company produced 4.2 million pure silver ounces in Q4 and over 15 million for the year, exceeding revised guidance [8] - Revenues reached nearly $1.3 billion for the year, marking a significant financial milestone [9] - The realized silver price for Q4 was just under $59, while the annual average was $41.52 [9] - The company reported record cash flows due to increased metal prices and production [10] - Cash position stood at just under $940 million, with working capital at $733 million [21] Business Line Data and Key Metrics Changes - The mint operation generated just under $23 million in Q4, with annual revenue of nearly $50 million and profitability of about $24 million [9][19] - The company achieved a silver purity of over 60% in Q4, which is a key performance indicator [10][50] Market Data and Key Metrics Changes - The company noted that the silver equivalent production was impacted by a collapse in the silver equivalent ratio towards the end of the year, resulting in a reduction of about 1.4 million silver-equivalent ounces [12] - The company is targeting 13 million to 14 million pure silver ounces for 2026, along with 110,000 to 130,000 ounces of gold [13] Company Strategy and Development Direction - The company plans to continue investing heavily in exploration and production, with a focus on maintaining silver purity [15][50] - The integration of the Gatos asset has been completed successfully, and the company is targeting further cost reductions and resource growth [15] - The company is expanding its plant capacity at Santa Elena and Gatos, aiming for increased throughput [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the volatility in metal prices and the impact on refineries, but stated that it does not affect the company's operations [31] - The company is optimistic about the future, with expectations of continued strength in metal prices and cash flow [24] Other Important Information - The company declared an increase in its dividend policy, doubling it from 1% to 2% of top-line revenue effective 2026 [22][23] - The company is focused on safe production, achieving world-class safety metrics [18] Q&A Session Summary Question: Any quantifiable issues related to costs or shipments this quarter? - Management noted that refineries have suspended financing, impacting smaller producers but not affecting the company [31] Question: Plans for cash allocation and Jerritt Canyon? - Management is considering capital returns to investors and is actively discussing a tax issue that has been pending since 2012 [38] Question: Clarification on realized silver price? - The realized price includes adjustments from concentrate sales and the mint's higher average price [40][45] Question: Plans to expand First Mint? - Management confirmed plans for expansion of the mint facility, which has shown rapid growth [48] Question: Any updates on Jerritt Canyon? - Management plans to provide a standalone update on Jerritt Canyon before the end of the quarter [52]

Financial Data and Key Metrics Changes - The company produced 4.2 million pure silver ounces in Q4 2025, totaling just over 15 million for the year, exceeding revised guidance [7][8] - Revenues reached nearly $1.3 billion for the year, marking a significant financial milestone [9] - The realized silver price for Q4 was just under $59, while the annual average was $41.52, indicating strong pricing strategies [9][10] - Record cash flows were reported, attributed to operational discipline and improved metal prices [10][22] Business Line Data and Key Metrics Changes - The mint operation generated just under $23 million in revenue for Q4, with profitability of about $24 million for the year [9][20] - The company reported a silver purity of over 60% in Q4, which is a key performance indicator [10][51] Market Data and Key Metrics Changes - The company noted a significant increase in marketable securities, rising by about $140 million for the year [21] - The company is experiencing a tight market with volatility affecting refineries, but it does not impact the company's operations as it does not finance its metal [31] Company Strategy and Development Direction - The company is targeting production of 13-14 million pure silver ounces and 110,000-130,000 ounces of gold for 2026, with a focus on maintaining a stable conversion ratio [13][14] - The integration of the Gatos asset has been successful, providing opportunities for cost reduction and resource growth [15][17] - The company plans to expand its plant capacity at Santa Elena from 3,100-3,200 tons per day to 3,500 tons per day by H2 2026 [18] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improved metal prices and a strong cash position of just under $940 million [22][24] - The company is focused on resolving a pending tax issue that has been ongoing since 2012, with hopes of final resolution in 2026 [38] Other Important Information - The company has doubled its dividend policy effective 2026, increasing from 1% to 2% of top-line revenue [23] - The company is planning to conduct 266 kilometers of drilling across all operations, reflecting confidence in exploration success [24] Q&A Session Summary Question: Any quantifiable issues related to costs or shipments encountered this quarter? - Management noted that refineries have suspended financing, impacting smaller producers but not the company, which does not finance its metal [31] Question: How is the company thinking about cash management and potential capital returns to investors? - Management indicated that while cash is increasing, there are ongoing discussions regarding a tax issue, and they have not conducted share buybacks but have increased dividends [38] Question: Is there any update on Jerritt Canyon? - Management stated that a standalone update on Jerritt Canyon will be provided once plans and numbers are finalized, with a focus on this asset now that Gatos is integrated [53]

Financial Data and Key Metrics Changes - OR Royalties achieved record annual revenues of $277.4 million, record operating cash flow of $246 million, and record earnings of $1.10 per share for the year 2025, driven by elevated precious metals prices [3][4] - The company ended 2025 with $142.1 million in cash and was completely debt-free, having paid off its credit facility in Q3 [4][33] - The company declared a quarterly dividend of $0.055, marking its 45th consecutive dividend, with over $279 million returned to shareholders to date [4][5] Business Line Data and Key Metrics Changes - OR Royalties earned 80,775 gold equivalent ounces (GEOs) in 2025, with 95% of GEOs coming from precious metals, including 65% from gold and 31% from silver [3][9] - The company had 22 producing assets at the end of 2025, with a significant portion of contributions from Tier One mining jurisdictions [9][12] Market Data and Key Metrics Changes - The company expects GEOs earned in 2026 to range between 80,000 and 90,000, with an average cash margin of approximately 97% [24][25] - The 2026 guidance reflects a consensus commodity price ratio of 73-to-1 for gold to silver, with current spot ratios around 64-to-1 [26] Company Strategy and Development Direction - The company emphasized a disciplined approach to capital allocation, prioritizing value over volume in acquisitions, with only $25 million spent on royalty and stream acquisitions in 2025 [6][7] - OR Royalties is targeting assets that contribute to a projected 50% growth trajectory through to 2030, focusing on accretive value creation [34][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current operating environment, highlighting the strategic advantage of being debt-free and having a strong cash position [4][33] - The company anticipates significant growth in GEOs from various assets, including Canadian Malartic, Island Gold, Dalgaranga, San Gabriel, and Namdini, particularly in 2027 [25][26] Other Important Information - The company recently acquired a 1.5% NSR royalty at Buenaventura's San Gabriel Mine, which is expected to ramp up production and contribute meaningfully to GEOs from 2028 onwards [12][14] - The acquisition of the Gold Fields royalty portfolio is expected to strengthen the company's long-term pipeline and provide immediate cash flow [34] Q&A Session Summary Question: Guidance for year-over-year performance - Management explained that the methodology for 2026 guidance is consistent with previous years, using a consensus pricing ratio of 73-to-1 for gold to silver, with potential upside if silver prices stabilize [40][41] Question: Mine ramp-ups and production profile - Management indicated no significant new ramp-ups beyond disclosed assets, with Mantos Blancos being the largest contributor to silver deliveries [42][43] Question: Opportunities for further acquisitions - Management confirmed ongoing exploration of acquisition opportunities, including familiar assets and new portfolios, while maintaining a focus on geography [44][45] Question: Expected GEOs from specific assets in 2030 - Management stated that the 2030 guidance includes minimum payments from Cascabel, with potential additional GEOs from various assets [54] Question: Mantos performance expectations - Management confirmed that expectations for Mantos are effectively flat compared to 2025 and 2026 [58]

Financial Data and Key Metrics Changes - OR Royalties achieved record annual revenues of $277.4 million in 2025, with record operating cash flow of $246 million and earnings of $1.10 per share, reflecting a cash margin of nearly 97% [4][5][8] - The company ended 2025 with $142.1 million in cash and was completely debt-free after paying off its credit facility [5][33] - The company declared a quarterly dividend of $0.055, marking its 45th consecutive dividend, with over $279 million returned to shareholders to date [5][6] Business Line Data and Key Metrics Changes - In 2025, OR Royalties earned 80,775 gold equivalent ounces (GEOs), with 95% of these coming from precious metals, primarily gold (65%) and silver (31%) [4][9] - The company had 22 producing assets at the end of 2025, with a significant portion of royalties coming from Tier One mining jurisdictions, including Canada, the U.S., and Australia [9][10] Market Data and Key Metrics Changes - The company noted that 2025 was characterized by elevated precious metals prices, which significantly influenced revenue and earnings [4][8] - The breakdown of GEOs earned indicated a strong reliance on precious metals, with expectations for continued stability in production from key assets like Mantos Blancos and Canadian Malartic [9][10][19] Company Strategy and Development Direction - OR Royalties emphasized a disciplined approach to capital allocation, completing only $25 million in royalty and stream acquisitions in 2025, while prioritizing value over volume [7][34] - The company plans to continue focusing on accretive value creation and will not pursue growth for its own sake [34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting a strong cash position and the potential for growth through new acquisitions and existing asset ramp-ups [6][34] - The company expects marginal growth in GEOs for 2026, with significant increases anticipated in 2027 due to contributions from several key assets [25][26] Other Important Information - The company recently acquired a 1.5% NSR royalty at Buenaventura's San Gabriel Mine, which is expected to contribute significantly to GEOs from 2028 onwards [12][15] - The acquisition of the Gold Fields royalty portfolio is seen as a strategic move to enhance cash flow and long-term growth potential [14][34] Q&A Session Summary Question: Guidance for year-over-year performance - Management explained that the methodology for 2026 guidance is consistent with previous years, using a consensus price deck of 73-to-1 for gold to silver ratios, with potential upside if silver prices remain stable [39][40] Question: Mine ramp-ups and production profile - Management indicated that there are no significant new ramp-ups beyond what has been disclosed, with Mantos Blancos being a key contributor to silver deliveries [41][42] Question: M&A opportunities and asset acquisitions - Management confirmed that there are significant opportunities for acquiring familiar assets and new portfolios, with a focus on maintaining a strong geographical presence in Canada, the U.S., and Australia [43][44] Question: Expected GEOs from specific assets in 2030 - Management stated that the 2030 guidance includes minimum payments from Cascabel and anticipates an aggregate upside of 20,000-30,000 GEOs from various assets [51][52] Question: Mantos production expectations - Management confirmed that expectations for Mantos are effectively flat compared to 2025 and 2026 [55][57]

Core Viewpoint - SAP SE recommends a dividend of €2.50 per share for fiscal year 2025, marking a 6.4% increase from the previous year [1] Group 1: Dividend Details - The proposed dividend represents an increase of €0.15 compared to the dividend paid for fiscal year 2024 [1] - If approved, the total dividend distribution would amount to approximately €2.919 billion, up from €2.743 billion in 2024, with a payout ratio of 40.7% compared to 52.0% in 2024 [1][2] - The record date for the dividend payment is set for May 5, 2026, with the ex-dividend date on May 6, 2026, and payment scheduled for May 8, 2026 [6] Group 2: Shareholder Benefits - SAP emphasizes that shareholders should benefit from the profits made in 2025, adhering to a dividend policy of distributing 40% or more of Non-IFRS profit after tax [2] - The final dividend amount for holders of SAP ADRs will depend on the euro/US dollar exchange rate, as dividends are paid in euros [2]

VANCOUVER, British Columbia, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that its Board of Directors (“Board”) has declared an inaugural quarterly cash dividend of US$0.015 per common share (“Share”) of the Company, which is payable on March 26, 2026 to shareholders of record as at the close of business on the record date of March 12, 2026. The Board has also approved a dividend policy under which the Company in ...

GENCO SHIPPING & TRADING LIMITED Q4 2025 Earnings Presentation February 18, 2026 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as "anticipate," "budget," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of s ...

Denver, Colorado--(Newsfile Corp. - February 17, 2026) - Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) ("Elemental" or "the Company") is pleased to announce that its Board of Directors has approved an inaugural dividend policy (the "Dividend Policy"). In accordance with the Policy, Elemental expects to declare an annual cash dividend to its shareholders of US$0.12 per Elemental common share, to be paid in quarterly instalments of US$0.03 per share, with the record date for the inaugural dividend ...