Sprott increased its regular quarterly dividend by 25%.
Uranium assets under management reached $10 billion.
Physical gold trust net flows reached $380 million.
On its third-quarter 2026 earnings call, held on Nov. 4, 2026, Sprott (NYSE:SII) reported average assets under management, or fee-earning client capital, of $58.8 billion. Operating leverage converts higher average asset levels into expanding free cash flow. Three takeaways from management detail the strategic trajectory.
Sprott increased its regular quarterly dividend by 25%, marking its third straight year of double-digit dividend growth. Operational efficiency and zero balance sheet debt support continuous capital returns to shareholders.
Over the past 5 years, we have generated meaningful operating leverage with AUM growing by 180% adjusted EBITDA margin expanding from 53% to 71%, and cash and equivalents surpassing $200 million as at September 30 of this year.
-- Kevin Lloyd Hibbert, CFO and Co-COO
Strategic energy metals provide balance against price swings in precious metals sentiment. Building dedicated strategies in uranium and rare-earth elements gives Sprott long-term exposure to physical supply deficits.
5.5 years ago, we had no exposure to uranium. We now have $10 billion under management.
-- John Ciampaglia, CEO, Sprott Asset Management
Import duties and regulatory changes in India restricted physical silver purchases, causing net outflows in silver trust products. Net additions in gold products offset silver weakness during a volatile period.
Our physical gold trust was a bright spot with $380 million in net flows for the quarter.
-- John Ciampaglia, CEO, Sprott Asset Management
Persistent government spending deficits and tight physical supply in strategic commodities create clear tailwinds across precious metals and energy transition assets. On the distribution side, specialized product offerings and an expanding platform position the business to capture institutional capital allocations. And management continues to monitor international trade policies as they evolve.
Looking ahead, we remain confident in our positioning and the long term outlook for precious metals and critical materials.
-- Whitney George, Chief Executive Officer
With accelerating cash flow generation and zero balance sheet leverage, the company has room to continuously reinvest in new strategy launches, fund seeding, and opportunistic share repurchases.
Our disciplined capital allocation framework is focused on growing the business through seeding new funds, and strategic acquisitions.
-- Whitney George, Chief Executive Officer
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