Labrador Iron Ore (TSE:LIF) has released an update.
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Labrador Iron Ore Royalty Corporation (LIORC) has announced a significant boost in revenue, with a U.S. $30.2 million dividend received from the Iron Ore Company of Canada (IOC), in which LIORC has a 15.1% stake. This injection of funds is not meant for LIORC shareholders directly but will contribute to the potential second quarter dividend LIORC may declare in June. LIORC benefits from its direct interest in IOC and through royalties and commissions on iron ore production and sales.
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