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

Labrador Iron Ore Royalty Co. (TSE:LIF) announced a quarterly dividend on Friday, September 13th, Zacks reports. Investors of record on Friday, September 27th will be given a dividend of 0.70 per share on Monday, October 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.70%. The ex-dividend date is Friday, September 27th.

Labrador Iron Ore Royalty Stock Performance

LIF stock traded up C$0.27 during mid-day trading on Wednesday, reaching C$32.18. 624,783 shares of the stock traded hands, compared to its average volume of 193,034. The stock has a market capitalization of C$2.06 billion, a PE ratio of 9.83, a PEG ratio of 0.94 and a beta of 1.10. Labrador Iron Ore Royalty has a one year low of C$28.48 and a one year high of C$33.49. The business has a 50-day moving average price of C$30.10 and a two-hundred day moving average price of C$29.88.

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

Wall Street Analyst Weigh In

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

About Labrador Iron Ore Royalty

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.