Diversified Royalty Corp to Issue Monthly Dividend of C$0.02 (DIV)
Diversified Royalty Corp (TSE:DIV) announced a monthly dividend on Wednesday, October 12th. Shareholders of record on Monday, October 31st will be paid a dividend of 0.0185 per share on Monday, October 31st. This represents a $0.22 dividend on an annualized basis and a yield of 9.10%. The ex-dividend date is Wednesday, October 12th.
Shares of Diversified Royalty Corp (TSE:DIV) traded up 1.67% during midday trading on Friday, reaching $2.44. 626,428 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $2.38 and a 200-day moving average of $2.28. Diversified Royalty Corp has a one year low of $1.96 and a one year high of $2.79. The stock has a market cap of $277.72 million and a price-to-earnings ratio of 27.42.
In other news, Director Kevin Arnold Giese sold 49,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of C$2.35, for a total transaction of C$116,325.00. Also, Director Lance Tracey sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of C$2.42, for a total transaction of C$60,500.00.
Separately, Paradigm Capital cut their price target on shares of Diversified Royalty Corp from C$4.00 to C$3.50 and set a “buy” rating on the stock in a report on Wednesday, August 17th.
Diversified Royalty Corp Company Profile
Diversified Royalty Corp. (DIV), formerly BENEV Capital Inc, is a multi-royalty company. The Company is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America (Royalty Partners). Its primary objectives are to purchase stable and growing royalty streams from Royalty Partners, and increase distributable cash per Share by making accretive royalty purchases.
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