Diversified Royalty Corp. (TSE:DIV) Announces Dividend Increase - $0.02 Per Share

Diversified Royalty Corp. (TSE:DIV - Get Free Report) announced a monthly dividend on Tuesday, July 15th, TickerTech Dividends reports. Stockholders of record on Thursday, July 31st will be paid 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 8.38%. 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 Price Performance

TSE DIV traded down C$0.01 on Wednesday, reaching C$3.28. 419,547 shares of the company's stock traded hands, compared to its average volume of 317,101. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. Diversified Royalty has a 12 month low of C$2.50 and a 12 month high of C$3.35. The stock has a market cap of C$501.45 million, a PE ratio of 17.12 and a beta of 1.57. The stock has a 50-day simple moving average of C$3.05 and a 200 day simple moving average of C$2.90.

Analyst Ratings Changes

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