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

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Thursday, May 15th, TickerTech Dividends reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.0208 per share on Friday, May 30th. This represents a $0.25 annualized dividend and a dividend yield of 8.43%. The ex-dividend date of this dividend is Thursday, May 15th.

Diversified Royalty Stock Up 0.3%

TSE DIV traded up C$0.01 on Tuesday, reaching C$2.96. The stock had a trading volume of 103,728 shares, compared to its average volume of 281,841. The company has a market capitalization of C$452.52 million, a price-to-earnings ratio of 15.45 and a beta of 1.57. The business has a 50 day moving average price of C$2.80 and a 200 day moving average price of C$2.87. Diversified Royalty has a 1 year low of C$2.50 and a 1 year high of C$3.09. The company has a current ratio of 4.28, a quick ratio of 1.74 and a debt-to-equity ratio of 90.70.

Wall Street Analysts Forecast Growth

DIV has been the subject of a number of recent analyst reports. Desjardins set a C$3.75 target price on Diversified Royalty and gave the stock a “buy” rating in a research report on Wednesday, February 26th. CIBC increased their target price on Diversified Royalty from C$3.00 to C$3.10 and gave the company a “neutral” rating in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diversified Royalty has a consensus rating of “Moderate Buy” and an average 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.