Labrador Iron Ore Royalty Corporation (LIF) Announces Dividend Increase – $1.00 Per Share
Labrador Iron Ore Royalty Corporation (TSE:LIF) announced a quarterly dividend on Monday, September 18th, Zacks reports. Investors of record on Saturday, September 30th will be given a dividend of 1.00 per share on Wednesday, October 25th. This represents a $4.00 annualized dividend and a yield of 19.16%. The ex-dividend date is Thursday, September 28th. This is a boost from Labrador Iron Ore Royalty Corporation’s previous quarterly dividend of $0.25.
Labrador Iron Ore Royalty Corporation (TSE LIF) traded up 0.05% during mid-day trading on Friday, reaching $20.88. 376,691 shares of the company traded hands. The stock has a market capitalization of $1.35 billion and a price-to-earnings ratio of 9.97. Labrador Iron Ore Royalty Corporation has a 12-month low of $13.03 and a 12-month high of $21.58. The company’s 50-day moving average is $19.15 and its 200-day moving average is $17.87.
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In other news, Director Duncan Newton Rowell Jackman acquired 3,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of C$18.69 per share, for a total transaction of C$56,070.00.
LIF has been the subject of a number of research reports. Scotiabank decreased their price objective on Labrador Iron Ore Royalty Corporation to C$20.00 and set a “sector perform” rating for the company in a report on Tuesday, June 13th. Eight Capital reiterated a “neutral” rating on shares of Labrador Iron Ore Royalty Corporation in a report on Thursday, August 17th. Finally, CSFB upgraded Labrador Iron Ore Royalty Corporation from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from C$16.50 to C$20.00 in a report on Thursday, August 3rd.
Labrador Iron Ore Royalty Corporation Company Profile
Labrador Iron Ore Royalty Corporation, together with its subsidiary, Hollinger-Hanna Limited, owns a 15.10% equity interest in Iron Ore Company of Canada (IOC) that operates an iron mine near Labrador City, Newfoundland and Labrador. IOC engages in the production and sale of iron ore pellets and concentrates in North America, Europe, the Middle East, and the Asia-Pacific region.
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