04:45 PM EST, 12/13/2024 (MT Newswires) -- Labrador Iron Ore Royalty ( LIFZF ) after close of trading Friday declared a quarterly cash dividend of $0.75 per share.

The dividend will be paid on Jan.29 to shareholders of record on Dec.31.

The Iron Ore Company of Canada (IOC), in which LIORC holds a 15.1% equity interest, declared a November dividend to be paid in December. LIORC's portion of the IOC dividend is $21.3 million.

The declaration of an IOC dividend to be received by LIORC is not the declaration by LIORC of a dividend to be paid to LIORC shareholders.

Through its wholly-owned subsidiary, Hollinger-Hanna Ltd., LIORC receives a 7% gross overriding royalty on all iron ore products produced, sold and shipped by IOC and a 10 cent per tonne commission on all iron ore products produced and sold by IOC.