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Last C$2.82 CAD
Change Today +0.01 / 0.36%
Volume 78.9K
NIF-U On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 3:59 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

noranda income fund (NIF-U) Snapshot

Open
C$2.85
Previous Close
C$2.81
Day High
C$2.86
Day Low
C$2.80
52 Week High
07/7/14 - C$5.79
52 Week Low
12/1/14 - C$1.98
Market Cap
105.7M
Average Volume 10 Days
84.4K
EPS TTM
C$-0.12
Shares Outstanding
37.5M
EX-Date
04/28/15
P/E TM
--
Dividend
C$0.50
Dividend Yield
17.73%
Current Stock Chart for NORANDA INCOME FUND (NIF-U)

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noranda income fund (NIF-U) Details

Noranda Income Fund operates as an unincorporated open-ended trust in Canada. The company, through the Noranda Operating Trust and the Noranda Income Limited Partnership, owns and operates electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Québec that produces refined zinc metal and various by-products from zinc concentrate. Its products include Jumbo Zinc, a product customized with alloy, for steel customers to enhance the productivity of galvanizing lines; zinc shot, a product that is used to produce electro-galvanized steel for the car industry; and granulated zinc that is used in the production of fertilizers and reagents for the pulp and paper industry. The company’s by-products include sulphuric acid and copper in cake. Noranda Income Fund serves customers primarily in Canada and the United States. The company was founded in 1963 and is headquartered in Toronto, Canada.

574 Employees
Last Reported Date: 03/11/15
Founded in 1963

noranda income fund (NIF-U) Top Compensated Officers

Chief Executive Officer of Canadian Electroly...
Total Annual Compensation: C$242.0K
Chief Financial Officer of Canadian Electroly...
Total Annual Compensation: C$115.0K
Compensation as of Fiscal Year 2013.

noranda income fund (NIF-U) Key Developments

Noranda Income Fund Announces Cash Distribution for the Month of April 2015, Payable on May 25, 2015

Noranda Income Fund announced that the Board of Trustees of Noranda Operating Trust has approved a distribution for the month of April 2015 of $0.04167 per Priority Unit payable on May 25, 2015 to Priority Unitholders of record as at the close of business on April 30, 2015.

Noranda Income Fund Announces Cash Distribution for March 2015, Payable on April 27, 2015

Noranda Income Fund announced that the Board of Trustees of Noranda Operating Trust has approved a distribution for the month of March 2015 of $0.04167 per Priority Unit payable on April 27, 2015 to Priority Unitholders of record as at the close of business on March 31, 2015.

Noranda Income Fund Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment of Non-Financial Assets for the Fourth Quarter of 2014

Noranda Income Fund reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. The fund reported loss before income taxes of CAD 27.9 million for the quarter compared to earnings of CAD 9.3 million in the same period a year ago. The CAD 37.2 million decrease was mainly due to a CAD 40.5 million asset impairment charge, and a CAD 4.3 million increase in pension expense related to additional pension benefits and early retirement provisions for the new collective agreement. This decrease was partially offset by higher net revenues resulting from higher zinc sales volumes and premiums. Revenues were CAD 214.646 million against CAD 148.313 million a year ago. Loss attributable to unit holders and non-controlling interest was CAD 22.621 million against profit of CAD 6.834 million a year ago. Cash provided by operating activities was CAD 13.624 million against CAD 21.671 million a year ago. Capital spending was CAD 35.1 million in 2014 compared to CAD 33.4 million in 2013. Most of the annual 2014 capital investment was spent on sustaining the fund's operations, including CAD 8.2 million on replacement anodes for the cell house, CAD 4.5 million on major roaster and acid plant equipment and CAD 1.9 million on electrical infrastructure. Investment in the silica removal project totaled CAD 9.5 million in 2014. Loss before income taxes was CAD 6.0 million in 2014, compared to earnings before income taxes of CAD 65.0 million in 2013. The CAD 71.0 million difference is due to a CAD 40.5 million asset impairment charge; a CAD 4.3 million increase in pension expenses related to additional pension benefits and early retirement provisions for the new collective agreement; a CAD 9.0 million increase in reclamation expenses; a CAD 9.2 million increase in feed acquisition costs; and lower zinc metal sales and by-product revenues. Revenues were CAD 695.036 million against CAD 609.405 million a year ago. Loss attributable to unit holders and non-controlling interest was CAD 5.102 million against profit of CAD 50.775 million a year ago. Cash used in operating activities was CAD 6.981 million against cash provided by operating activities of CAD 91.195 million a year ago. The company reported impairment of non-financial assets was CAD 40.500 million for the fourth quarter of 2014.

 

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