Labrador Iron Ore declares Q3, special dividends
THE DIRECTORS of Labrador Iron Ore Royalty Corp. has declared a regular quarterly cash dividend of 25 cents per common share. The directors also declared a special dividend of 75 cents per common share for total dividends of $1 per common share. All amounts are payable to holders of record at the close of business on Sept. 30, 2017, and to be paid on Oct. 25, 2017.
The directors of Labrador Iron Ore wish to advise shareholders in regard to future dividends that:
• The main factors that affect Labrador Iron Ore dividends are their on ore price, Iron Ore Company of Canada production and the Canadian dollar exchange rate with the U.S. dollar.
• The intent of Labrador Iron Ore is to maintain the regular quarterly cash dividend at 25 cents per 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 Labrador Iron Ore recognize that there is limited public information available for Labrador Iron Ore shareholders to assess future IOC dividends.
However, IOC is managed conservatively, and IOC intends to continue to be self-financing in all markets.
William John Corcoran, Mark James Fuller, Duncan Newton Rowell Jackman, James Cooper McCartney, William H McNeil, Sandra L Rosch, Patricia M Volker
(LIF) Shares: 64,000,000