Labrador Iron Ore Royalty Co. (LIF) to Issue Quarterly Dividend of $1.10 on July 26th

Labrador Iron Ore Royalty Co. (TSE:LIF) declared a quarterly dividend on Tuesday, June 11th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 1.10 per share on Friday, July 26th. This represents a $4.40 dividend on an annualized basis and a yield of 14.72%. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.45.

Labrador Iron Ore Royalty Price Performance

LIF opened at C$29.90 on Wednesday. The company has a market capitalization of C$1.91 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The business has a 50-day moving average of C$29.88 and a 200-day moving average of C$30.64. Labrador Iron Ore Royalty has a fifty-two week low of C$28.48 and a fifty-two week high of C$34.18.

Labrador Iron Ore Royalty (TSE:LIF) last posted its earnings results on Wednesday, May 8th. The company reported C$0.93 earnings per share (EPS) for the quarter. The firm had revenue of C$56.66 million during the quarter. Labrador Iron Ore Royalty had a net margin of 96.37% and a return on equity of 30.18%. On average, equities research analysts expect that Labrador Iron Ore Royalty will post 3.375 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LIF. Scotiabank upped their price objective on shares of Labrador Iron Ore Royalty from C$30.00 to C$32.00 in a report on Thursday, May 30th. TD Securities lowered their price objective on Labrador Iron Ore Royalty from C$37.00 to C$35.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.