Labrador Iron Ore Royalty Co. (TSE:LIF) Declares $0.70 Quarterly Dividend

Labrador Iron Ore Royalty Co. (TSE:LIF) declared a quarterly dividend on Friday, September 13th, Zacks reports. Investors of record on Friday, September 27th will be paid a dividend of 0.70 per share on Monday, October 28th. This represents a $2.80 annualized dividend and a yield of 8.53%. The ex-dividend date of this dividend is Friday, September 27th.

Labrador Iron Ore Royalty Trading Up 2.8 %

LIF stock opened at C$32.81 on Thursday. The firm has a market cap of C$2.10 billion, a PE ratio of 9.97, a PEG ratio of 0.94 and a beta of 1.10. Labrador Iron Ore Royalty has a 1 year low of C$28.48 and a 1 year high of C$33.49. The company has a fifty day simple moving average of C$30.16 and a 200 day simple moving average of C$29.89.

Labrador Iron Ore Royalty (TSE:LIF) last announced its earnings results on Tuesday, August 6th. The company reported C$0.78 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. The firm had revenue of C$53.13 million during the quarter. As a group, analysts forecast that Labrador Iron Ore Royalty will post 3.7574257 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price target on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research report on Monday, August 19th.

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.