Diversified Royalty Corp. Declares Sep 25 Dividend of $0.02 (TSE:DIV)

Key Points

• Diversified Royalty Corp. declared a dividend of $0.02 per share, payable on September 29 to shareholders of record as of September 18.
• The company's stock price remained stable at C$3.57 during recent trading, with a 52-week high of C$3.59 and a low of C$2.50.
• Wall Street analysts have a consensus target price of C$3.70 for Diversified Royalty, with most ratings reflecting a "Buy" or "Outperform" outlook.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) declared a sep 25 dividend on Thursday, September 4th, RTT News reports. Stockholders of record on Thursday, September 18th will be paid a dividend of 0.0229 per share on Monday, September 29th.

Diversified Royalty Stock Performance

Shares of Diversified Royalty stock remained flat at C$3.57 during trading hours on Thursday. The stock had a trading volume of 62,023 shares, compared to its average volume of 302,528. The stock has a 50-day moving average price of C$3.34 and a 200 day moving average price of C$3.03. Diversified Royalty has a fifty-two week low of C$2.50 and a fifty-two week high of C$3.59. The firm has a market cap of C$605.71 million, a P/E ratio of 22.31 and a beta of 0.81. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.

Wall Street Analysts Forecast Growth

Several research firms have commented on DIV. Desjardins increased their price objective on shares of Diversified Royalty from C$3.75 to C$4.00 in a report on Thursday, August 7th. CIBC raised their price objective on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research note on Thursday, June 19th. Finally, Raymond James Financial raised their price objective on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research note on Thursday, June 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Diversified Royalty has an average rating of "Buy" and a consensus target price of C$3.70.

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.

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