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Labrador Iron Ore Royalty Corporation - Cash Dividend for the Fourth Quarter of 2020 - $1.80 Per Common Share
Labrador Iron Ore Royalty Corporation - Cash Dividend for the Fourth Quarter of 2020 - $1...
About this update from Labrador Iron Ore Royalty Corporation
[{"type":"text","content":"\n \n \n \n Labrador Iron Ore Royalty Corporation - Cash Dividend for the Fourth Quarter of 2020 - $1.80 Per Common Share\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 15, 2020\n \n /CNW/ - The Directors of Labrador Iron Ore Royalty Corporation (the \"Corporation\") (TSX: LIF) declared today a quarterly cash dividend of\n \n $1.80\n \n per Common Share. The dividend is payable to holders of record at the close of business on\n \n December 31, 2020\n \n and is to be paid on\n \n January 26, 2021\n \n .\n \n \n The Corporation has decided to end the practice of designating dividends as either regular or special dividends.  Currently, many third-party investor information services do not include special dividends when calculating the Corporation's dividend yield, despite the fact that special dividends have been declared in 23 of the last 32 quarters and have represented over 48% of the total value of dividends declared over that time.  By removing the special dividend designation, the Corporation believes that its dividend yield will be more accurately reported by these services in the future.\n \n \n The Corporation normally pays cash dividends from its net income to the maximum extent possible, subject to the maintenance of appropriate levels of working capital. This change will not affect the total amount of quarterly dividends received by shareholders, which will continue to vary depending on the financial results of IOC.  The total aggregate dividends declared in 2020 was\n \n $3.05\n \n per Common Share.\n \n \n \n About Labrador Iron Ore Royalty Corporation\n \n \n \n The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty and a\n \n 10 cent\n \n per tonne commission on all iron ore products produced, sold and shipped by IOC.\n \n \n \n \n Forward-Looking Statements\n \n \n \n This press release may contain ''forward-looking'' statements that involve risks, uncertainties and other factors that may c...