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

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Tuesday, September 3rd, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.021 per share on Friday, September 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend is Friday, September 13th.

Diversified Royalty Stock Performance

Shares of TSE:DIV remained flat at C$2.84 during trading on Thursday. The stock had a trading volume of 33,676 shares, compared to its average volume of 227,906. The firm has a 50 day simple moving average of C$2.77 and a 200-day simple moving average of C$2.79. Diversified Royalty has a fifty-two week low of C$2.35 and a fifty-two week high of C$2.97. The company has a current ratio of 5.73, a quick ratio of 1.74 and a debt-to-equity ratio of 89.69. The firm has a market cap of C$469.88 million, a P/E ratio of 13.52 and a beta of 1.57.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share for the quarter, hitting the consensus estimate of C$0.05. The company had revenue of C$16.78 million during the quarter, compared to analysts’ expectations of C$17.50 million. Diversified Royalty had a net margin of 51.17% and a return on equity of 12.02%. On average, analysts predict that Diversified Royalty will post 0.1949384 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cibc World Mkts lowered shares of Diversified Royalty from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 13th. CIBC cut shares of Diversified Royalty from an “outperform” rating to a “neutral” rating in a research report on Monday, May 13th.

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.