In April 2021, the Company announced that it was determined to focus its efforts on enhancing shareholder value and maximizing earnings and dividends to its shareholders based upon its iron ore royalty interest. Aligned with this focus, the Company announced that its board of directors has taken the first step by approving a cash dividend policy. The dividend policy is intended to maximize potential future dividends payable to holders of common shares. after consideration of the Company's financial position, operating results, ongoing working capital requirements and other factors.

On April 30, 2021, the Company announced that Our board of directors approved the stock dividends that will be distributed to holders of our Common Shares. The stock dividends received requisite stock exchange approvals. No fractional shares were issued by us in connection with such stock dividends.