Diversified Royalty Corp (TSE:DIV) Declares Dividend Increase - $0.02 Per Share

Diversified Royalty Corp (TSE:DIV) announced a monthly dividend on Thursday, July 27th, Zacks reports. Stockholders of record on Tuesday, August 15th will be given a dividend of 0.019 per share on Thursday, August 31st. This represents a $0.23 dividend on an annualized basis and a dividend yield of 9.58%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Diversified Royalty Corp’s previous monthly dividend of $0.02.

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Shares of Diversified Royalty Corp (TSE:DIV) opened at 2.38 on Friday. Diversified Royalty Corp has a 12-month low of $2.23 and a 12-month high of $2.78. The stock has a market cap of $251.83 million and a price-to-earnings ratio of 26.44. The stock’s 50 day moving average is $2.53 and its 200-day moving average is $2.59.

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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.