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. Stockholders 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 annualized dividend and a dividend 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, hitting C$3.67. 327,977 shares of the stock traded hands, compared to its average volume of 198,847. The company has a market cap of $391.06, a price-to-earnings ratio of 40.78 and a beta of 0.75. Diversified Royalty has a one year low of C$2.20 and a one year high of C$3.74.

In other Diversified Royalty news, Director Mitchell Harold Gropper sold 28,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of C$3.45, for a total transaction of C$98,325.00.

Several research analysts recently weighed in on the stock. CIBC lifted their price objective on shares of Diversified Royalty from C$3.00 to C$3.75 in a research note on Tuesday, October 17th. Pi Financial lifted their price objective on shares of Diversified Royalty from C$3.25 to C$4.25 and gave the stock a “buy” rating in a research note on Monday, November 13th.

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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.

Dividend History for Diversified Royalty (TSE:DIV)

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