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

Diversified Royalty Corp. (TSE:DIV) announced a monthly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.021 per share on Friday, May 31st. This represents a $0.25 annualized dividend and a dividend yield of 8.87%. The ex-dividend date of this dividend is Tuesday, May 14th.

Diversified Royalty Trading Up 1.4 %

Shares of Diversified Royalty stock traded up C$0.04 during midday trading on Friday, reaching C$2.84. The company had a trading volume of 186,238 shares, compared to its average volume of 232,257. The stock has a fifty day moving average price of C$2.84 and a 200 day moving average price of C$2.74. Diversified Royalty has a fifty-two week low of C$2.35 and a fifty-two week high of C$3.07. The firm has a market cap of C$467.15 million, a PE ratio of 12.91 and a beta of 1.58. The company has a debt-to-equity ratio of 128.77, a current ratio of 0.69 and a quick ratio of 1.74.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Thursday, March 21st. The company reported C$0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.05 by C$0.01. Diversified Royalty had a net margin of 56.15% and a return on equity of 13.46%. The firm had revenue of C$16.39 million for the quarter, compared to the consensus estimate of C$16.84 million. On average, equities analysts anticipate that Diversified Royalty will post 0.1800743 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DIV. Cormark decreased their price target on Diversified Royalty from C$4.25 to C$4.00 in a report on Monday, February 26th. Raymond James set a C$3.40 target price on Diversified Royalty and gave the stock an “outperform” rating in a research note on Thursday, February 8th.

Diversified Royalty Company Profile

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.