Diversified Royalty Corp. (DIV) to Issue Monthly Dividend of $0.02 on December 31st

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Monday, December 15th, TickerTech Dividends reports. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.0238 per share on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Monday, December 15th. This is a 3.9% increase from Diversified Royalty’s previous monthly dividend of $0.02.

Diversified Royalty Stock Up 0.3%

TSE DIV traded up C$0.01 during mid-day trading on Friday, hitting C$3.80. The company’s stock had a trading volume of 190,249 shares, compared to its average volume of 301,965. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70. Diversified Royalty has a twelve month low of C$2.50 and a twelve month high of C$3.82. The firm has a market capitalization of C$647.04 million, a price-to-earnings ratio of 22.35 and a beta of 0.96. The company’s 50 day simple moving average is C$3.58 and its 200 day simple moving average is C$3.42.

Diversified Royalty (TSE:DIV) last announced its earnings results on Thursday, November 13th. The company reported C$0.05 EPS for the quarter. The company had revenue of C$19.59 million during the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%. Analysts anticipate that Diversified Royalty will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, CIBC boosted their price target on shares of Diversified Royalty from C$3.50 to C$4.00 in a report on Friday, November 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Diversified Royalty has an average rating of “Moderate Buy” and a consensus price target of C$3.87.

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.