TORONTO, Sept. 14, 2018 /CNW/ -The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") declared today a regular quarterly cash dividend of $0.25 per Common Share. The Directors also declared a special dividend of $0.30 per Common Share for total dividends of $0.55 per Common Share. All amounts are payable to holders of record at the close of business on September 30, 2018 and to be paid on October 25, 2018.
Iron Ore Company of Canada Dividend
The Corporation announced that Iron Ore Company of Canada (IOC) has declared a dividend payable on September 27, 2018. The Corporation's portion is U.S. $45,300,000 or about CDN. $59 million (CDN. $0.92 per share).
LIORC shareholders are advised that the IOC dividend represents a larger payout ratio than in prior periods and reflects a number of considerations including the fact that the risk from labour negotiations has passed. The LIORC Board of Directors has decided to use a portion of the IOC dividend to increase the Corporation's cash position pending the outcome of relevant strategic considerations.
SOURCE Labrador Iron Ore Royalty Corporation
For further information: William H. McNeil, President & Chief Executive Officer, (416) 863-7133, E-mail- [email protected], 26th Floor, 40 King Street West, Toronto, Ontario M5W 2X6, Tel : (416) 863-7133, Fax : (416) 863-7425