Franco-Nevada Co. (NYSE:FNV) to Issue 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. Investors of record on Thursday, March 13th will be paid 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 is Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36.

Franco-Nevada has increased its dividend payment by an average of 7.5% per year over the last three years. Franco-Nevada has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. 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 %

FNV traded up $0.57 during trading on Tuesday, hitting $137.67. 684,587 shares of the stock were exchanged, compared to its average volume of 659,277. The firm has a market capitalization of $26.51 billion, a P/E ratio of -43.57, a PEG ratio of 6.12 and a beta of 0.74. Franco-Nevada has a 1-year low of $103.64 and a 1-year high of $139.68. The stock has a fifty day moving average price of $124.03 and a two-hundred day moving average price of $124.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. During the same quarter last year, the company earned $0.91 EPS. The firm's revenue for the quarter was down 10.9% compared to the same quarter last year. Analysts predict that Franco-Nevada will post 3.19 EPS for the current year.

Wall Street Analysts Forecast Growth

FNV has been the topic of several analyst reports. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. HC Wainwright reiterated a "buy" rating and issued a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. UBS Group began coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 price objective for the company. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, Scotiabank cut 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. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.