Diversified Royalty Corp. Declares Cash Dividend for September 2024
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Diversified Royalty Corp. Declares Cash Dividend for September 2024
VANCOUVER, British Columbia – Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) is excited to share the news that its board of directors has approved a cash dividend of $0.02083 per common share for the upcoming month of September. This dividend represents an annualized value of $0.25 per common share. Shareholders can expect this payment on September 27 to those recorded as of the close of business on September 13.
Company Overview
Diversified Royalty Corp., often referred to as DIV, operates as a multi-royalty corporation. The company's mission is to acquire valuable royalties from well-managed, multi-location businesses and franchisors across North America. By focusing on accumulating steady and increasing royalty streams, DIV aims to build a robust portfolio that delivers consistent returns.
Our Brand Portfolio
Currently, DIV proudly owns several reputable brands including Mr. Lube + Tires, AIR MILES, Sutton Realty, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito. Mr. Lube + Tires stands out as the leading quick lube service provider across Canada. AIR MILES is celebrated as the nation’s most extensive coalition loyalty program. Meanwhile, Sutton Realty holds a prominent position among Canada's residential real estate franchises, while Mr. Mikes serves delectable meals at casual steakhouses mainly in Western Canada.
Nurse Next Door enhances the quality of care with home-based services in both Canada and the U.S., as well as in Australia. Oxford Learning Centres is recognized as one of Canada’s top franchise operators in supplemental education, and Stratus Building Solutions leads in environmentally friendly commercial cleaning services primarily in the U.S. Lastly, BarBurrito maintains its reputation as the largest quick-service Mexican restaurant chain in the country.
Strategic Goals and Growth
The overarching goal of DIV is to increase cash flow per share, a strategy that involves making accretive royalty purchases while fostering the growth of existing royalty streams. The company is committed to providing its shareholders with a reliable and stable monthly dividend, aspiring to raise the dividend over time as cash flows allow.
Financial Stability and Shareholder Commitment
Diversified Royalty Corp. is dedicated to transparency and efficacy in its operations, striving to deliver dividends consistently while cultivating a foundation of financial health. By achieving its corporate objectives, the company is poised to enhance shareholder value and maintain confidence among investors.
Frequently Asked Questions
What is the dividend amount approved by Diversified Royalty Corp.?
The board has approved a cash dividend of $0.02083 per common share for September 2024.
When will the dividend be paid to shareholders?
Shareholders will receive the dividend payment on September 27, with record holders as of September 13.
What businesses does Diversified Royalty Corp. own?
Diversified Royalty Corp. owns several prominent brands, including Mr. Lube + Tires, AIR MILES, Sutton Realty, Mr. Mikes, and more.
How does Diversified Royalty Corp. aim to support its shareholders?
The company aims to provide a stable monthly dividend and intends to increase it over time, based on cash flow growth.
What is the corporate mission of Diversified Royalty Corp.?
DIV's mission is to acquire reliable, growing royalty streams from diverse business sectors to generate consistent cash flow for its shareholders.
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