TORONTO, May 26, 2023 /CNW/ - Labrador Iron Ore Royalty Corporation ("LIORC") announced that Iron Ore Company of Canada ("IOC"), in which LIORC holds a 15.1% equity interest, has declared a dividend to be paid in June. LIORC's portion of the IOC dividend is U.S. $15.1 million, or about CDN. $20.6 million. For further clarity, this announcement refers to the declaration of an IOC dividend to be received by LIORC and is NOT the declaration by LIORC of a dividend to be paid to LIORC shareholders. LIORC typically declares a second quarter dividend in June based on the total amount of cash expected to be received in the quarter, including the IOC dividend.
About Labrador Iron Ore Royalty Corporation
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 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.
SOURCE Labrador Iron Ore Royalty Corporation
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