Sean Morrison reports
DIVERSIFIED ROYALTY CORP. ANNOUNCES JULY 2022 CASH DIVIDEND
Diversified Royalty Corp.'s board of directors has approved a cash dividend of 1.833 cents per common share for the period of July 1, 2022, to July 31, 2022, which is equal to 22 cents per common share on an annualized basis. The dividend will be paid on July 29, 2022, to shareholders of record as of the close of business on July 15, 2022.
About Diversified Royalty Corp.
Diversified Royalty is a multiroyalty corporation, engaged in the business of acquiring top-line royalties from well-managed multilocation businesses and franchisers in North America. The company's objective is to acquire predictable, growing royalty streams from a diverse group of multilocation businesses and franchisers.
The company 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. Sutton is among the leading residential real estate brokerage franchiser 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.
The company intends to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. Diversified Royalty intends to pay a monthly dividend to shareholders and increase the dividend as cash flow per share increases allow.
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