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

Diversified Royalty Corp. (TSE:DIV) declared a monthly dividend on Monday, June 15th, TickerTech Dividends reports. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.0238 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, June 15th.

Diversified Royalty Trading Up 0.9%

Shares of TSE:DIV traded up C$0.04 during trading hours on Friday, hitting C$4.70. 326,066 shares of the company’s stock traded hands, compared to its average volume of 385,856. Diversified Royalty has a 1 year low of C$2.87 and a 1 year high of C$4.93. The business has a fifty day moving average price of C$4.47 and a 200-day moving average price of C$4.11. The firm has a market capitalization of C$804.96 million, a P/E ratio of 23.50 and a beta of 1.06. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74.

Diversified Royalty (TSE:DIV) last announced its earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share (EPS) for the quarter. Diversified Royalty had a return on equity of 12.54% and a net margin of 49.91%.The business had revenue of C$18.80 million during the quarter. Equities analysts expect that Diversified Royalty will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a report on Wednesday, May 20th. Raymond James Financial boosted their price target on Diversified Royalty from C$4.25 to C$4.70 and gave the company an “outperform” rating in a report on Wednesday, May 20th. ATB Cormark Capital Markets boosted their price target on Diversified Royalty from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Thursday, May 21st. Finally, Desjardins boosted their price target on Diversified Royalty from C$4.50 to C$4.75 and gave the company a “buy” rating in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$4.89.

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. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.