Franco-Nevada Corporation (NYSE:FNV) Announces Dividend Increase – $0.44 Per Share

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Monday, January 26th. Investors of record on Thursday, March 12th will be paid a dividend of 0.44 per share by the basic materials company on Thursday, March 26th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 12th. This is a 15.8% increase from Franco-Nevada’s previous quarterly dividend of $0.38.

Franco-Nevada has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Franco-Nevada has a dividend payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Franco-Nevada to earn $4.02 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 37.8%.

Franco-Nevada Stock Up 1.5%

FNV stock traded up $3.79 during mid-day trading on Monday, reaching $259.54. 1,171,617 shares of the stock traded hands, compared to its average volume of 918,734. The firm has a market capitalization of $50.04 billion, a PE ratio of 54.41, a P/E/G ratio of 1.44 and a beta of 0.48. The business has a 50-day moving average of $215.55 and a two-hundred day moving average of $198.04. Franco-Nevada has a 52 week low of $127.20 and a 52 week high of $266.61.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The firm’s revenue was up 76.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities research analysts anticipate that Franco-Nevada will post 3.09 EPS for the current fiscal year.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.