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

Key Points

• Diversified Royalty declared a monthly dividend of C$0.0238 per share, payable September 29 to shareholders of record on that date; the dividend carries an annualized yield of approximately 6.9%.
• Shares recently traded at C$4.11, below their 50-day and 200-day moving averages of C$4.36 and C$4.40, respectively, with a one-year range of C$3.41 to C$4.98.
• Analysts remain broadly positive, with all four covering analysts rating the stock a Buy or Outperform and an average price target of C$5.25.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) declared a monthly dividend on Tuesday, September 15th. Shareholders of record on Tuesday, September 29th will be given a dividend of 0.0238 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Diversified Royalty Price Performance

Shares of DIV stock traded up C$0.03 on Friday, reaching C$4.11. The company had a trading volume of 195,153 shares, compared to its average volume of 475,856. The stock has a market capitalization of C$775.79 million, a PE ratio of 24.18 and a beta of 1.06. The company has a quick ratio of 1.74, a current ratio of 0.49 and a debt-to-equity ratio of 212.48. Diversified Royalty has a one year low of C$3.41 and a one year high of C$4.98. The business's 50-day moving average is C$4.36 and its 200 day moving average is C$4.40.

Diversified Royalty (TSE:DIV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$19.48 million for the quarter. Diversified Royalty had a net margin of 39.72% and a return on equity of 10.39%. Equities research analysts forecast that Diversified Royalty will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DIV. Desjardins cut their target price on shares of Diversified Royalty from C$5.00 to C$4.75 and set a "buy" rating on the stock in a research report on Friday, August 14th. Canaccord Genuity Group increased their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Raymond James Financial raised their price objective on Diversified Royalty from C$4.70 to C$5.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Finally, ATB Cormark Capital Markets reduced their price objective on Diversified Royalty from C$7.25 to C$7.00 and set an "outperform" rating on the stock in a research report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of C$5.25.

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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