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

Diversified Royalty Corp. (TSE:DIV - Get Free Report) declared a monthly dividend on Tuesday, July 15th, TickerTech Dividends reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.0229 per share on Thursday, July 31st. This represents a $0.27 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Tuesday, July 15th. This is a 10.1% increase from Diversified Royalty's previous monthly dividend of $0.02.

Diversified Royalty Stock Performance

DIV opened at C$3.31 on Friday. The firm has a market cap of C$506.03 million, a P/E ratio of 17.28 and a beta of 1.57. Diversified Royalty has a 1-year low of C$2.50 and a 1-year high of C$3.33. The company has a 50 day simple moving average of C$3.04 and a two-hundred day simple moving average of C$2.89. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. CIBC upped their target price on shares of Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research report on Thursday, June 19th. Raymond James Financial upped their target price on shares of Diversified Royalty from C$3.40 to C$3.60 and gave the stock an "outperform" rating in a research report on Thursday, June 19th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$3.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.