Franco-Nevada Corporation (FNV) to Issue Quarterly Dividend of $0.44 on March 26th

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) announced a quarterly dividend on Monday, January 26th. Shareholders of record on Thursday, March 12th will be given a dividend of 0.44 per share by the basic materials company on Thursday, March 26th. This represents a c) dividend on an annualized basis 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 raised its dividend 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. 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 Trading Up 1.0%

NYSE FNV opened at $261.81 on Wednesday. Franco-Nevada has a 12 month low of $129.05 and a 12 month high of $266.61. The stock has a market cap of $50.48 billion, a PE ratio of 54.89, a P/E/G ratio of 1.46 and a beta of 0.48. The stock’s 50 day moving average is $218.17 and its 200 day moving average is $199.47.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock worth $1,828,821,000 after acquiring an additional 129,898 shares during the last quarter. Bank of Montreal Can boosted its stake in Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock worth $1,237,510,000 after purchasing an additional 454,175 shares in the last quarter. First Eagle Investment Management LLC grew its position in Franco-Nevada by 26.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company’s stock worth $901,092,000 after purchasing an additional 846,950 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Franco-Nevada by 35.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after purchasing an additional 838,853 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Franco-Nevada in the second quarter worth $460,218,000. 77.06% of the stock is owned by institutional investors.

About Franco-Nevada

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.