Royalty Round up, May 2021: Dividend hikes drive share prices higher May 2021 continued the positive trend for mining royalty and streaming businesses for the third month in a row, with the average share price up 1.9% this month, with 63% of companies in the sector experiencing positive share price movements. This month the majors were the best performing subset of the sector, up an average of 7.5%. Large-tiers were just behind up an average of 7.4%, with mid-tiers up an average of 1.3%, while juniors were down an average of 0.3%. Majors Wheaton Precious Metals Corp (TSE:WPM, LON:WPM), was the best-performing major, up 11.4% this month (40.4% 3-months) following the publication of its first-quarter 2021 (Q121) results. Wheaton reported record revenue of US$324mln with over US$230mln in operating cash flow generated during Q121, leading the company to increase its quarterly dividend to US$0.14 per share. This represents the third quarterly increase in dividends in a row and is a massive 40% increase on the Q120 dividend. Royal Gold, Inc. (TSE:RGL) also performed well up 6.6% (19.4% 3-months) following its Q121 results.