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

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

Diversified Royalty Trading Up 1.7 %

DIV stock traded up C$0.05 during trading on Wednesday, hitting C$3.07. The company had a trading volume of 126,370 shares, compared to its average volume of 232,429. The firm has a 50-day moving average price of C$2.95 and a 200-day moving average price of C$2.83. The stock has a market cap of C$507.93 million, a price-to-earnings ratio of 14.57 and a beta of 1.57. Diversified Royalty has a 12 month low of C$2.52 and a 12 month high of C$3.09. The company has a quick ratio of 1.74, a current ratio of 5.73 and a debt-to-equity ratio of 89.69.

Diversified Royalty (TSE:DIV) last posted its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.05. The business had revenue of C$16.78 million for the quarter, compared to analysts’ expectations 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, analysts predict that Diversified Royalty will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

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

About Diversified Royalty

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.