IAG Has A 5.67% Yield And Sells For Less Than Book

IAMGold Corp (NYSE: IAG) has been named as a Top 5 dividend paying metals and mining stock, according to Dividend Channel, which published its weekly ”DividendRank” report. The report noted that among metals and mining companies, IAG shares displayed both attractive valuation metrics and strong profitability metrics. For example, the recent IAG share price of $4.41 represents a price-to-book ratio of 0.4 and an annual dividend yield of 5.67% — by comparison, the average metals and mining stock in Dividend Channel’s coverage universe yields 2.9% and trades at a price-to-book ratio of 1.6. The report also cited the strong dividend history at IAMGold Corp, and favorable long-term multi-year growth rates in key fundamental data points.

The report stated, ”Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That’s what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most ‘interesting’ stocks, meant for investors as a source of ideas that merit further research.”

The annualized dividend paid by IAMGold Corp is $0.25/share, currently paid in installments, and its most recent dividend ex-date was on 07/01/2013. (more)

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