Franco-Nevada Co. (NYSE:FNV) Announces Dividend Increase - $0.38 Per Share

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.38 per share by the basic materials company on Thursday, March 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36.

Franco-Nevada has raised its dividend payment by an average of 7.5% per year over the last three years. Franco-Nevada has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franco-Nevada to earn $4.04 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 35.6%.

Franco-Nevada Stock Up 0.4 %

Shares of NYSE FNV traded up $0.57 during trading on Tuesday, reaching $137.67. 684,587 shares of the stock were exchanged, compared to its average volume of 659,277. The business's 50-day moving average price is $124.03 and its 200 day moving average price is $124.36. The company has a market capitalization of $26.51 billion, a price-to-earnings ratio of -43.57, a price-to-earnings-growth ratio of 6.12 and a beta of 0.74. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $139.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. As a group, sell-side analysts expect that Franco-Nevada will post 3.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FNV has been the topic of several research reports. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, HC Wainwright restated a "buy" rating and issued a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.33.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.