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

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Wednesday, October 2nd, Zacks reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.021 per share on Thursday, October 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date of this dividend is Tuesday, October 15th.

Diversified Royalty Trading Up 0.3 %

Shares of DIV stock traded up C$0.01 during trading hours on Friday, hitting C$3.01. 217,045 shares of the company were exchanged, compared to its average volume of 236,413. Diversified Royalty has a 1 year low of C$2.35 and a 1 year high of C$3.01. The firm has a fifty day moving average of C$2.84 and a 200 day moving average of C$2.81. The firm has a market cap of C$498.00 million, a PE ratio of 14.29 and a beta of 1.56. 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 announced its quarterly earnings results on Friday, August 9th. The company reported C$0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.05. The company had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. Diversified Royalty had a net margin of 51.17% and a return on equity of 12.02%. Analysts expect that Diversified Royalty will post 0.1950568 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DIV shares. 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 objective on shares of Diversified Royalty and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diversified Royalty presently has a consensus rating of “Moderate Buy” and an average target price of C$3.60.

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.