It was widely reported analysts expected Sandstorm to report an EPS this month of US1c.
The company previously announced record annual gold-equivalent production for 2017 and had flagged the possibility of paying dividends.
Sandstorm said its Q1 revenue was a record for the company and was $0.6 million higher than the first quarter of 2017.
This was driven by a 10% increase in the average realised selling price of gold but partially offset by a 6% decrease in attributable gold-equivalent ounces sold.
It sold 14,685oz AuEq in the quarter, compared with 15,558oz AuEq in the previous corresponding period.
Sandstorm now has 180 royalties in its portfolio and forecast attributable production for 2018 of 53,000-60,000 ounces AuEq.
During the quarter, it gained its first revenue from the recently-acquired Houndé royalty but this was virtually offset by a decrease in the royalties received from the Emigrant Springs and San Andres mines.
It also completed its sale of $18.3 million in debt and equity securities of the recently-formed Equinox Gold.
Sandstorm shares closed down 2.25% in Toronto to C$6.07.