Diversified Royalty Corp. (TSE:DIV) Shareholders to Collect $0.02 Monthly Dividend

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Friday, November 13th. Shareholders of record on Monday, November 30th will be given a dividend of $0.0238 per share on Monday, November 30th. This represents a $0.29 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Friday, November 13th.

Diversified Royalty Price Performance

Shares of Diversified Royalty stock traded up C$0.01 during trading on Wednesday, reaching C$3.53. The company’s stock had a trading volume of 153,765 shares, compared to its average volume of 478,861. The business has a 50 day moving average price of C$4.06 and a 200-day moving average price of C$4.28. Diversified Royalty has a 12-month low of C$3.42 and a 12-month high of C$4.98. The company has a quick ratio of 1.74, a current ratio of 0.58 and a debt-to-equity ratio of 177.18. The company has a market capitalization of C$666.31 million, a P/E ratio of 20.76 and a beta of 0.90.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings data on Saturday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter. The firm had revenue of C$31.53 million during the quarter. Diversified Royalty had a return on equity of 8.78% and a net margin of 30.10%. As a group, sell-side analysts anticipate that Diversified Royalty will post 0.20 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DIV. Raymond James Financial decreased their price target on Diversified Royalty from C$5.00 to C$4.40 and set an “outperform” rating on the stock in a research note on Tuesday. Desjardins dropped their price objective on shares of Diversified Royalty from C$4.75 to C$4.50 and set a “buy” rating for the company in a research note on Tuesday. Finally, ATB Cormark Capital Markets cut their price objective on shares of Diversified Royalty from C$7.25 to C$7.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Diversified Royalty presently has a consensus rating of “Buy” and an average target price of C$5.08.

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.