December 2021 Cash Dividend VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV and DIV.DB) (the “Corporation” or “DIV”) is pleased to announce that its board of directors has approved a cash dividend of $0.01833 per common share for the period of December 1, 2021 to December 31, 2021, which is equal to $0.22 per common share on an annualized basis. The dividend will be paid on December 31, 2021 to shareholders of record as of the close of business on December 15, 2021.
About Diversified Royalty Corp.
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.
DIV currently owns the Mr. Lube, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door and Oxford Learning Centres trademarks. Mr. Lube is the leading quick lube service business in Canada, with locations across Canada. AIR MILES® is Canada’s largest coalition loyalty program with approximately two-thirds of Canadian households actively participating in the AIR MILES® Program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is one of North America’s fastest growing home care providers with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchised supplemental education services in Canada and the United States.
DIV intends to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV intends to pay a monthly dividend to shareholders and increase the dividend as cash flow per share increases allow.
https://www.globenewswire.com/en/news-release/2021/10/28/2322790/0/en/Diversified-Royalty-Corp-Announces-Increase-to-the-Monthly-Dividend-Preliminary-Q3-2021-Results-for-its-Royalty-Partners-and-Change-to-Board-of-Directors.html