Junior iron ore miner BC Iron ( ASX:BCI ) has delivered a nice surprise to shareholders, announcing a 30 cent final dividend, to go with the 5 cent dividend it paid out earlier this year. At the current price of $4.27, that equates to a dividend yield of 8.2%, or a grossed up dividend yield of 11.7%. It's also more than double the 15 cents BC Iron paid out to shareholders last year. It comes as the iron ore producer reported another strong year with underlying profit rising 41% to $71.4 million, on the back of record full year production of 5 million tonnes of iron ore at its Nullagine Iron Ore Joint Venture with Fortescue Metals Group ( ASX:FMG ). BC Iron currently owns 75% of the Joint Venture, after buying back 25% from Fortescue in December 2012.