Diversified Royalty Corp (DIV) to Issue Dividend Increase – $0.02 Per Share
Diversified Royalty Corp (TSE:DIV) declared a monthly dividend on Thursday, January 4th, Zacks reports. Investors of record on Monday, January 15th will be paid a dividend of 0.019 per share on Wednesday, January 31st. This represents a $0.23 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, January 12th. This is an increase from Diversified Royalty’s previous monthly dividend of $0.02.
Shares of Diversified Royalty (TSE:DIV) traded up C$0.02 during midday trading on Thursday, reaching C$3.67. 327,977 shares of the company were exchanged, compared to its average volume of 198,847. Diversified Royalty has a one year low of C$2.20 and a one year high of C$3.74. The stock has a market cap of $391.06, a PE ratio of 40.78 and a beta of 0.75.
In other Diversified Royalty news, Director Mitchell Harold Gropper sold 28,500 shares of Diversified Royalty stock in a transaction dated Friday, December 15th. The shares were sold at an average price of C$3.45, for a total value of C$98,325.00.
Several brokerages have issued reports on DIV. Pi Financial lifted their target price on shares of Diversified Royalty from C$3.25 to C$4.25 and gave the stock a “buy” rating in a report on Monday, November 13th. CIBC lifted their target price on shares of Diversified Royalty from C$3.00 to C$3.75 in a report on Tuesday, October 17th.
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About Diversified Royalty
Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. The company was formerly known as BENEV Capital Inc and changed its name to Diversified Royalty Corp. in October 2014. Diversified Royalty Corp.
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