Terra Nova Announces Market-Beating Dividend Policy

Terra Nova Royalty Corporation (TTT) declared its first quarterly dividend today and outlined plans to pay shareholders a premium to the market’s dividend yield.

Under its newly-established dividend policy, Terra Nova will establish a dividend rate at the beginning of each year aimed to beat the dividend yield of the NYSE Composite Index by 25 basis points (0.25%).

For 2011, Terra Nova will pay shareholders $0.20 per share, with the first quarterly payout of $0.05 per share carrying an ex-dividend date of January 18.

Shares of TTT closed at $7.82 on Friday, where they now carry a 2.56% dividend yield.

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