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

Diversified Royalty Corp. (TSE:DIV) announced a monthly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.021 per share on Friday, November 29th. This represents a $0.25 annualized dividend and a yield of 8.21%. The ex-dividend date is Friday, November 15th.

Diversified Royalty Stock Performance

Shares of DIV stock traded up C$0.05 during midday trading on Wednesday, hitting C$3.07. 126,370 shares of the company were exchanged, compared to its average volume of 232,429. The firm has a market capitalization of C$507.93 million, a P/E ratio of 14.57 and a beta of 1.57. The company has a debt-to-equity ratio of 89.69, a quick ratio of 1.74 and a current ratio of 5.73. Diversified Royalty has a 52 week low of C$2.52 and a 52 week high of C$3.09. The firm’s 50 day moving average price is C$2.95 and its two-hundred day moving average price is C$2.83.

Diversified Royalty (TSE:DIV) last posted its earnings results on Friday, August 9th. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. The company had revenue of C$16.78 million for the quarter, compared to the consensus estimate of C$17.50 million. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. As a group, equities research analysts anticipate that Diversified Royalty will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

DIV has been the subject of several analyst reports. Ventum Cap Mkts upgraded shares of Diversified Royalty to a “strong-buy” rating in a research note on Tuesday, September 24th. Ventum Financial set a C$4.00 target price on Diversified Royalty and gave the company a “buy” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Diversified Royalty presently has a consensus rating of “Moderate Buy” and an average target price of C$3.80.

Diversified Royalty Company Profile

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.