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

Diversified Royalty Corp. (TSE:DIV) announced a monthly dividend on Friday, May 15th, TickerTech Dividends reports. Shareholders of record on Friday, May 29th will be given a dividend of 0.0238 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Friday, May 15th.

Diversified Royalty Stock Performance

TSE:DIV traded down C$0.01 during trading hours on Wednesday, reaching C$4.29. The company had a trading volume of 145,205 shares, compared to its average volume of 323,874. The company has a current ratio of 0.68, a quick ratio of 1.74 and a debt-to-equity ratio of 88.76. Diversified Royalty has a 52 week low of C$2.87 and a 52 week high of C$4.42. The firm has a market cap of C$733.63 million, a price-to-earnings ratio of 20.43 and a beta of 1.07. The firm’s 50 day moving average price is C$4.19 and its 200-day moving average price is C$3.93.

Diversified Royalty (TSE:DIV) last posted its earnings results on Friday, March 20th. The company reported C$0.06 EPS for the quarter. Diversified Royalty had a net margin of 51.82% and a return on equity of 12.71%. The business had revenue of C$20.41 million during the quarter. On average, analysts forecast that Diversified Royalty will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Desjardins lifted their target price on shares of Diversified Royalty from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$4.03.

Diversified Royalty Company Profile

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.