We report on the hyperfine-structure splitting of the 716 nm R903-10 molecular iodine transition. We show that this particular iodine line provides a very useful frequency reference in the context of a laser cooling experiment of iron atoms, an atomic species that has so far never been laser cooled and trapped to our knowledge. We provide experimental values for the hyperfine constants ΔeQq and ΔC of the investigated iodine transition. Dispersive signals of this transition are also presented and used to lock the frequency of a Ti:sapphire laser. The reported stabilization performance is fully compatible with the requirements of a laser cooling experiment of iron atoms.