Diversified Royalty Corp. Announce November 2024 Dividends Through Investing.com
VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the Company or DIV) is pleased to announce that its board of directors has authorized a cash dividend of $0.02083 per share from November 1, 2024 to November 30, 2024 , which equates to $0.25 per share for the year. The dividend will be paid on November 29, 2024 to shareholders retained as of the close of business on November 15, 2024.
About Diversified Royalty Corp.
DIV is a multi-royal company, engaged in the business of obtaining high returns from well-managed multi-location businesses and franchisors in North America. DIV’s mission is to acquire predictable, growing distribution royalties from a diverse group of multi-location businesses and franchisors.
DIV currently owns the Mr. Lube + Tires, AIR MILES ®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centers, Stratus Building Solutions and BarBurrito. Mr. Lube + Tires is Canada’s leading fast lube service business, with locations across Canada. AIR MILES ® is Canada’s largest affiliate loyalty program. Sutton is among the leading Real Estate Brokerage franchisors in Canada. Mr. Mikes runs a series of traditional steakhouses mainly in western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as Australia. Oxford Learning Centers is one of the leading franchisee continuing education services in Canada. Stratus Building Solutions is a leading commercial cleaning service company that provides comprehensive cleaning, building cleaning, and office cleaning services primarily in the United States. BarBurrito is Canada’s largest quick service Mexican restaurant.
DIV’s objective is to increase cash flow per share by making profitable acquisitions and capital growth. DIV intends to continue to pay predictable and stable monthly dividends to shareholders and to increase dividends over time, in each case as cash flow per share allows.
Forward-looking statements
Certain statements contained in this news release may include forward-looking information within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information. . The use of any of the words expect, continue, estimate, expect, intend, may, indicate, should, believe, confident, plan and intend and similar expressions are intended to identify forward-looking information, although not all are forward-looking. information contains these identifiers. Specifically, the forward-looking information in this news release includes, but is not limited to, statements made regarding: the amount and timing of the November 2024 dividend payable to DIV shareholders; DIV’s objective is to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s business objectives. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results or events, performance, or achievements of DIV to differ materially from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular, there can be no assurance that: DIV will be able to make monthly dividend payments to its common stockholders; or DIV will achieve any of its business objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release is not a guarantee of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting the business of DIV and the businesses of its royalty partners can be found in the Risk Factors section of its Annual Information form dated 21 March 2024 and in the Latest Management Discussion and Analysis, copies of each of which. are available under the DIV profile on SEDAR+ at www.sedarplus.com.
In developing the forward-looking information contained herein, management has assumed that, among other things, DIV will generate sufficient cash from its earnings to service its debt and make payments to shareholders; business and economic conditions affecting DIV and its royalty partners will continue largely in the ordinary course of time, including without limitation in relation to general industry conditions, general levels of economic activity and regulations. These ideas, even though managers consider them reasonable at the time of preparation, may turn out to be wrong.
All forward-looking statements made in this news release are qualified by these cautionary statements and other cautions or factors contained herein, and there can be no assurance that actual results or improvements will be realized or, even substantially, achieved. they will have expected results, or results in DIV. The forward-looking information contained in this news release is presented as of the date of this news release and DIV undertakes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
THE TORONTO STOCK EXCHANGE DOES NOT REVIEW NOR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Additional Information
Additional information related to the Corporation and other public filings, is available on SEDAR+ at www.sedarplus.com.
Contact person:
Sean Morrison, President and CEO
Diversified Royalty Corp.
(236) 521-8470
Greg Gutmanis, Chief Financial Officer and VP Procurement
Diversified Royalty Corp.
(236) 521-8471
Source: Diversified Royalty Corp.
