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

Diversified Royalty Corp. (TSE:DIV) announced a monthly dividend on Monday, December 15th, TickerTech Dividends reports. Investors of record on Wednesday, December 31st will be given a dividend of 0.0238 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Monday, December 15th. This is a 3.9% increase from Diversified Royalty’s previous monthly dividend of $0.02.

Diversified Royalty Price Performance

Diversified Royalty stock traded up C$0.01 during midday trading on Friday, reaching C$3.80. 190,249 shares of the company were exchanged, compared to its average volume of 301,965. The firm’s 50-day simple moving average is C$3.58 and its 200-day simple moving average is C$3.42. Diversified Royalty has a 1 year low of C$2.50 and a 1 year high of C$3.82. The company has a market capitalization of C$647.04 million, a price-to-earnings ratio of 22.35 and a beta of 0.96. The company has a debt-to-equity ratio of 90.70, a quick ratio of 1.74 and a current ratio of 4.28.

Diversified Royalty (TSE:DIV) last released its quarterly earnings results on Thursday, November 13th. The company reported C$0.05 earnings per share (EPS) for the quarter. The company had revenue of C$19.59 million for the quarter. Diversified Royalty had a net margin of 49.25% and a return on equity of 11.46%. On average, analysts anticipate that Diversified Royalty will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

Separately, CIBC raised their target price on shares of Diversified Royalty from C$3.50 to C$4.00 in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$3.87.

About Diversified Royalty

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.