Diversified Royalty Corp. Declares Monthly Dividend of $0.02 (TSE:DIV)

Key Points

• Dividend declared: Diversified Royalty announced a monthly dividend of C$0.0238 per share (annualized yield ~7.0%), with an ex-dividend date of March 13 and shareholders of record/pay date on March 31.
• Shares traded at C$4.06 (market cap C$693.2M) with a P/E of 23.88, a 52-week range of C$2.57–C$4.32, and a debt-to-equity ratio of about 101.11.
• Analysts view the stock as a "Moderate Buy" with a consensus target of C$4.03 after recent price-target increases from CIBC and Desjardins (two Buys, one Hold).

Diversified Royalty Corp. (TSE:DIV - Get Free Report) declared a monthly dividend on Friday, March 13th, TickerTech Dividends reports. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.0238 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, March 13th.

Diversified Royalty Price Performance

Shares of DIV stock traded down C$0.02 on Wednesday, hitting C$4.06. 288,798 shares of the stock traded hands, compared to its average volume of 311,984. The firm has a market cap of C$693.22 million, a price-to-earnings ratio of 23.88 and a beta of 1.11. The company has a debt-to-equity ratio of 101.11, a current ratio of 0.79 and a quick ratio of 1.74. The firm has a 50 day simple moving average of C$4.00 and a two-hundred day simple moving average of C$3.75. Diversified Royalty has a 52 week low of C$2.57 and a 52 week high of C$4.32.

Wall Street Analysts Forecast Growth

DIV has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on Diversified Royalty from C$3.50 to C$4.00 in a research report on Friday, November 14th. Desjardins lifted their target price on Diversified Royalty from C$4.00 to C$4.50 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Diversified Royalty currently has an average rating of "Moderate Buy" and a consensus target price of C$4.03.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company's operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.

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