TORONTO, Sept. 15, 2017 /CNW/ - The Directors of Labrador Iron Ore Royalty Corporation declared today a regular quarterly cash dividend of $0.25 per Common Share. The Directors also declared a special dividend of $0.75 per Common Share for total dividends of $1.00 per Common Share. All amounts are payable to holders of record at the close of business on September 30, 2017 and to be paid on October 25, 2017.
The Directors of LIORC wish to advise shareholders in regard to future dividends that:
- The main factors that affect LIORC dividends are the iron ore price, Iron Ore Company of Canada production, and the Canadian dollar exchange rate with the US dollar.
- The intent of LIORC is to maintain the regular quarterly cash dividend at $0.25/share.
- Special dividends will be paid at the discretion of the directors, maintaining reasonable cash balances.
- The special dividends are expected to be largely dependent on dividends from IOC to the IOC shareholders. Since IOC is a private company, the directors of LIORC recognize that there is limited public information available for LIORC shareholders to assess future IOC dividends. However, IOC is managed conservatively and IOC intends to continue to be self-funding in all markets.
SOURCE Labrador Iron Ore Royalty Corporation
For further information: William H. McNeil, President & Chief Executive Officer, (416) 863-7133, E-mail- email@example.com