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

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 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Friday, November 15th.

Diversified Royalty Stock Up 1.3 %

DIV traded up C$0.04 on Wednesday, hitting C$3.06. The company had a trading volume of 155,773 shares, compared to its average volume of 232,566. The stock has a fifty day moving average price of C$2.95 and a 200-day moving average price of C$2.83. Diversified Royalty has a 12-month low of C$2.52 and a 12-month high of C$3.09. The company has a debt-to-equity ratio of 89.69, a quick ratio of 1.74 and a current ratio of 5.73. The stock has a market capitalization of C$506.28 million, a price-to-earnings ratio of 14.57 and a beta of 1.57.

Diversified Royalty (TSE:DIV) last posted its 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. Diversified Royalty had a return on equity of 12.02% and a net margin of 51.17%. The company had revenue of C$16.78 million for the quarter, compared to analyst estimates of C$17.50 million. Analysts predict that Diversified Royalty will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DIV shares. Ventum Cap Mkts upgraded Diversified Royalty to a “strong-buy” rating in a research note 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 note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.