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

Key Points

• Diversified Royalty declared a monthly dividend of C$0.0238 per share, equivalent to approximately C$0.29 annually and a 7.0% yield. The ex-dividend date is October 15, with payment scheduled for October 30.
• The stock opened at C$4.08, with a market capitalization of C$770.1 million and a 52-week range of C$3.41 to C$4.98. Its latest quarter included C$19.48 million in revenue and C$0.02 in earnings per share.
• Insiders recently increased their holdings, including director Johnny Ciampi’s purchase of 100,000 shares and insider Sean Morrison’s acquisition of 12,626 shares.

Diversified Royalty Corp. (TSE:DIV - Get Free Report) announced a monthly dividend on Thursday, October 15th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.0238 per share on Friday, October 30th. This represents a $0.29 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Thursday, October 15th.

Diversified Royalty Stock Performance

TSE:DIV opened at C$4.08 on Tuesday. The stock has a market cap of C$770.12 million, a price-to-earnings ratio of 24.00 and a beta of 0.95. Diversified Royalty has a one year low of C$3.41 and a one year high of C$4.98. The company has a debt-to-equity ratio of 212.48, a quick ratio of 1.74 and a current ratio of 0.49. The business's 50-day simple moving average is C$4.17 and its 200 day simple moving average is C$4.39.

Diversified Royalty (TSE:DIV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.02 earnings per share for the quarter. Diversified Royalty had a return on equity of 10.39% and a net margin of 39.72%. The firm had revenue of C$19.48 million during the quarter. As a group, sell-side analysts predict that Diversified Royalty will post 0.20 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sean Morrison acquired 12,626 shares of the business's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of C$4.02 per share, for a total transaction of C$50,756.52. Following the completion of the purchase, the insider directly owned 771,648 shares of the company's stock, valued at C$3,102,024.96. This represents a 1.66% increase in their position. Also, Director Johnny Ciampi bought 100,000 shares of Diversified Royalty stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of C$3.99 per share, for a total transaction of C$399,000.00. Following the acquisition, the director owned 112,767 shares in the company, valued at C$449,940.33. The trade was a 783.27% increase in their ownership of the stock. 0.52% of the stock is owned by insiders.

About Diversified Royalty

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV's objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. DIV, through its subsidiary, Mr. Lube Canada Ltd., also operates the Mr. Lube + Tires franchisor business in Canada. Mr. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance.

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