By Maria Armental

Franco-Nevada Corp. reported a stronger fourth-quarter performance that drove record results for 2020, including more than $1 billion in revenue, helped by precious metals prices through the year and the recovery of energy prices in the second half of the year. Here's what you need to know:

PROFIT: Net income for the quarter rose to $176.7 million from $113.3 million a year earlier. On a per-share basis, profit was 93 cents, or 85 cents as adjusted.

REVENUE: Revenue for the quarter rose to $304.5 million from $258.1 million a year earlier.

YEAR: The Canadian gold and energy royalty company ended the year at a profit of $326.2 million on a record $1.02 billion in revenue, compared with a profit of $344.1 million and $844.1 million a year earlier.

OUTLOOK: In 2021, Franco-Nevada expects attributable royalty and stream sales to total 555,000 to 585,000 gold equivalent ounces from mining assets and $115 million to $135 million in revenue from energy assets. For 2021 guidance, the company converted silver, platinum and palladium metals to GEOs using assumed commodity prices of $1,750 Au, $25 Ag, $1,100 Pt and $2,200 Pd. The WTI oil price and Henry Hub natural gas price are assumed to average $55 a barrel and $2.50 per mcf, respectively, the company said.

Franco-Nevada's 5-year outlook calls for its existing portfolio to produce 600,000 and 630,000 GEOs by 2025, assuming the same commodity price assumptions used for 2021 guidance and assuming no other acquisitions.

DIVIDEND: Chief Executive Paul Brink said in a statement that given the outlook, Franco-Nevada is raising its quarterly dividend to 30 cents a share, from 26 cents a share, starting with the second-quarter payment in June.

DIVERSITY: Franco-Nevada adopted a goal of at least 40% diverse representation at the Board and senior management levels by 2025.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

03-10-21 1746ET