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

Diversified Royalty Corp. (TSE:DIV - Get Free Report) announced a monthly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, November 15th will be given 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 Price Performance

TSE:DIV traded up C$0.04 during trading hours on Wednesday, reaching C$3.06. The stock had a trading volume of 315,557 shares, compared to its average volume of 233,310. The company has a 50 day moving average price of C$2.95 and a two-hundred day moving average price of C$2.83. Diversified Royalty has a 52 week low of C$2.52 and a 52 week 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 PE ratio of 14.57 and a beta of 1.57.

Diversified Royalty (TSE:DIV - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported C$0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of C$0.05. Diversified Royalty had a net margin of 51.17% and a return on equity of 12.02%. The firm had revenue of C$16.78 million during the quarter, compared to analyst estimates of C$17.50 million. As a group, sell-side analysts anticipate that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Ventum Financial set a C$4.00 price objective on shares of Diversified Royalty and gave the company a "buy" rating in a research report on Tuesday, September 24th. Ventum Cap Mkts raised shares of Diversified Royalty to a "strong-buy" rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.