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

Diversified Royalty Corp. (TSE:DIV) announced a monthly dividend on Thursday, May 15th, TickerTech Dividends reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.0208 per share on Friday, May 30th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 8.40%. The ex-dividend date is Thursday, May 15th.

Diversified Royalty Trading Up 0.7%

Shares of DIV traded up C$0.02 during trading hours on Tuesday, hitting C$2.97. The stock had a trading volume of 193,645 shares, compared to its average volume of 283,724. Diversified Royalty has a 12-month low of C$2.50 and a 12-month high of C$3.09. The firm has a market cap of C$454.05 million, a P/E ratio of 15.50 and a beta of 1.57. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28. The company’s fifty day simple moving average is C$2.80 and its 200 day simple moving average is C$2.87.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. CIBC increased their price target on Diversified Royalty from C$3.00 to C$3.10 and gave the company a “neutral” rating in a report on Tuesday, March 25th. Desjardins set a C$3.75 price objective on shares of Diversified Royalty and gave the company a “buy” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$3.62.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments.