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

Key Points

• Diversified Royalty Corp. declared a monthly dividend of C$0.0238 per share, with shareholders of record on July 31 set to be paid on that date. The dividend implies an annualized yield of about 6.2%.
• The stock opened at C$4.62 and the company currently has a market cap of C$864.16 million. Its recent trading range has been between C$3.20 and C$4.98.
• Analyst sentiment remains positive, with multiple firms reiterating or raising targets; the stock carries a consensus Buy rating and an average target price of C$5.35.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) declared a monthly dividend on Wednesday, July 15th, TickerTech Dividends reports. Investors of record on Friday, July 31st will be paid a dividend of 0.0238 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, July 15th.

Diversified Royalty Stock Performance

Shares of TSE:DIV opened at C$4.62 on Monday. The firm has a market capitalization of C$864.16 million, a PE ratio of 23.10 and a beta of 1.11. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74. Diversified Royalty has a 12 month low of C$3.20 and a 12 month high of C$4.98. The business has a 50-day moving average of C$4.66 and a two-hundred day moving average of C$4.27.

Diversified Royalty (TSE:DIV - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The company had revenue of C$18.80 million for the quarter. As a group, research analysts forecast that Diversified Royalty will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DIV. Desjardins upped their target price on Diversified Royalty from C$4.75 to C$5.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Raymond James Financial raised their price target on Diversified Royalty from C$4.70 to C$5.00 and gave the stock an "outperform" rating in a research note on Thursday. Canaccord Genuity Group upped their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Finally, ATB Cormark Capital Markets lowered their target price on shares of Diversified Royalty from C$7.50 to C$7.25 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$5.35.

About Diversified Royalty

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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