Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) declared a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Thursday, September 14th will be paid a dividend of 0.23 per share by the basic materials company on Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, September 13th.

Franco-Nevada Corporation has raised its dividend by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Franco-Nevada Corporation has a payout ratio of 91.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Franco-Nevada Corporation to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 86.0%.

Shares of Franco-Nevada Corporation (NYSE:FNV) traded up 3.58% during trading on Wednesday, reaching $75.30. The company had a trading volume of 1,012,185 shares. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $81.16. The firm has a market capitalization of $13.61 billion, a PE ratio of 98.95 and a beta of -0.03. The firm has a 50-day moving average of $72.25 and a 200 day moving average of $68.66.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. Franco-Nevada Corporation had a net margin of 21.17% and a return on equity of 4.35%. The business had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts expect that Franco-Nevada Corporation will post $0.98 earnings per share for the current year.

Several equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded shares of Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Barclays PLC reissued an “equal weight” rating and set a $74.00 price target (up from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $85.00 price target on shares of Franco-Nevada Corporation in a report on Thursday, June 15th. Finally, Credit Suisse Group set a $78.00 price target on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $75.35.

COPYRIGHT VIOLATION WARNING: “Franco-Nevada Corporation Plans Quarterly Dividend of $0.23 (NYSE:FNV)” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at

Franco-Nevada Corporation Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

Dividend History for Franco-Nevada Corporation (NYSE:FNV)

Receive News & Ratings for Franco-Nevada Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.