Diversified Royalty Corp. Announces Cash Dividend for October
Diversified Royalty Corp. Announces Cash Dividend for October
Vancouver-based Diversified Royalty Corp. (TSX: DIV and TSX: DIV.DB.A) has exciting news for its shareholders. The Corporation's board of directors recently approved a cash dividend of $0.02083 per common share, covering the period from October 1, 2024, to October 31, 2024. This translates to an annualized rate of $0.25 per share. Shareholders can anticipate receiving this payment on October 31, 2024, provided they are on record as of the market close on October 15, 2024.
Upcoming Earnings Release
In addition to the dividend announcement, Diversified Royalty Corp. is set to release its earnings results for the third quarter. The Corporation will announce results for the three and nine months ending September 30, 2024, after the regular trading hours on the Toronto Stock Exchange on November 6, 2024.
About Diversified Royalty Corp.
Diversified Royalty Corp. operates as a multi-royalty corporation, focusing on acquiring top-line royalties from well-managed multi-location businesses and franchisors throughout North America. The Corporation aims to secure consistent, growing royalty streams by targeting a diverse selection of prominent companies.
Key Business Ventures
Currently, the Corporation holds several robust trademarks, including Mr. Lube + Tires, AIR MILES, Sutton Group, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito. Each of these brands represents a leading entity in its respective field, ensuring a reliable income stream for Diversified Royalty Corp.
Mr. Lube + Tires and AIR MILES
As Canada’s top quick lube service provider, Mr. Lube + Tires operates at numerous locations across the country. Meanwhile, AIR MILES is recognized as Canada’s most extensive coalition loyalty program, offering significant rewards to millions of members.
Real Estate and Dining Ventures
Sutton Group stands out among real estate brokerage franchisors in Canada, providing a strong foothold in the housing market. Additionally, Mr. Mikes serves communities primarily in Western Canada with its casual dining approach, offering a great experience for families and individuals alike.
Healthcare and Educational Services
Nurse Next Door provides home care solutions across Canada, the U.S., and even Australia, proving its significance in healthcare. Conversely, Oxford Learning Centres stands as a top-tier provider of supplemental education services, impacting the lives of students across Canada.
Cleaning and Dining Services
Stratus Building Solutions excels in commercial cleaning, offering environmentally friendly janitorial services in the United States. BarBurrito further diversifies Diversified Royalty’s portfolio as the largest quick-service Mexican restaurant chain in Canada, catering to a growing audience of dining enthusiasts.
Focus on Growth and Stability
Overall, Diversified Royalty Corp. is committed to enhancing cash flow per share by pursuing accretive royalty acquisitions and nurturing the growth of its existing royalty streams. The Corporation aims to provide shareholders with a predictable and stable monthly dividend, with the goal of increasing this payment as cash flow allows.
Frequently Asked Questions
What is the announced dividend for October 2024?
The announced dividend is $0.02083 per common share, equating to $0.25 on an annual basis.
When will the dividend be paid?
The dividend is scheduled to be paid on October 31, 2024, to shareholders on record by the close of business on October 15, 2024.
What is the upcoming earnings release date?
The earnings results for Q3 will be released on November 6, 2024, after market hours.
What is the business model of Diversified Royalty Corp.?
Diversified Royalty Corp. focuses on acquiring top-line royalty streams from multi-location businesses and franchisors across North America.
Which brands does Diversified Royalty Corp. own?
The Corporation owns several prominent brands, including Mr. Lube + Tires, AIR MILES, Mr. Mikes, and Nurse Next Door, among others.
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