Diversified Royalty Corp. Announces August 2023 Cash Dividend and Q2 2023 Earnings Release Date
VANCOUVER, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Company” or “DIV”) is excited to announce that its board of directors has given the green light to a cash payment of $0.02 per regular share for the time period spanning August 1, 2023 to August 31, 2023. This amount is equivalent to $0.24 per regular share based on a yearly calculation. The dividend will be disbursed on August 31, 2023 to shareholders who were recorded as such at the end of business on August 15, 2023.
The anticipated date of the publication of financial results for the second quarter of 2023.
DIV will announce its financial results for the fiscal quarter and half-year period ending June 30, 2023 after the regular trading session concludes on the Toronto Stock Exchange on August 14, 2023.
DIV has decided against disclosing the initial outcomes of DIV's royalty partners prior to revealing DIV's complete financial results. Consequently, there will be no pre-announced results for DIV's royalty partners in the second quarter of 2023 before DIV's filing of the Q2 2023 results on August 14, 2023.
Diversified Royalty Corp is a company that specializes in various areas.
DIV is a company that specializes in obtaining royalties from successful businesses and franchisors with multiple locations across North America. DIV aims to acquire consistent and expanding royalty incomes from a wide range of well-managed businesses and franchisors with multiple locations.
DIV currently holds trademarks for several popular brands including Mr. Lube, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, and Stratus Building Solutions. Mr. Lube is a highly regarded quick oil change service in Canada, with numerous locations throughout the country. AIR MILES® is Canada's largest program that offers rewards for customer loyalty through a coalition of participating businesses. Sutton is known for being one of the top residential real estate brokerage franchisors in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in communities in western Canada. Nurse Next Door is experiencing rapid growth as one of the leading providers of home care in North America, with branches in Canada, the United States, and Australia. Oxford Learning Centres is a well-established franchise that offers additional educational services in Canada. Stratus Building Solutions is a prominent franchise company that specializes in environmentally-friendly commercial cleaning services, primarily serving customers in the United States.
The main goal of DIV is to enhance the amount of cash generated for each share by acquiring royalties that bring in more profit and by expanding the existing royalties. DIV plans to keep distributing regular and consistent monthly dividends to its shareholders and gradually raise those dividends as the cash flow per share permits.
This news release contains statements that may be considered “forward-looking information” according to securities laws. These statements involve risks, uncertainties, and other factors that could cause the actual results to be different from what is expressed or implied by the forward-looking information. The words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, “project”, “should”, “believe”, “confident”, “plan”, and “intends” are used to identify forward-looking information, although not all forward-looking information includes these words. The forward-looking information in this news release includes statements about the August 2023 dividend payment to DIV’s shareholders, DIV’s goal to provide consistent monthly dividends, and DIV’s corporate objectives. These statements involve risks, uncertainties, and other factors that may cause actual results, performance, or achievements of DIV to be different from what is expected or implied by the forward-looking information. DIV believes that the expectations reflected in the forward-looking information are reasonable, but there is no guarantee that these expectations will be correct. There is no assurance that DIV will be able to make monthly dividend payments or achieve its corporate objectives. Given these uncertainties, readers are cautioned not to rely too heavily on the forward-looking information in this news release. More information about the risks and uncertainties affecting DIV’s business can be found in the “Risk Factors” section of its Annual Information Form and its most recent Management’s Discussion and Analysis, which are available on DIV’s profile on SEDAR+ at www.sedarplus.ca.
When creating the predictions and forecasts mentioned in this blog, the management has made an assumption that DIV will have enough money from its royalties to pay off its debt and distribute dividends to the shareholders. The management has also assumed that the circumstances impacting DIV and its royalty partners will remain relatively unchanged, including factors like industry conditions, economic activity, and regulations. However, it is possible that these assumptions, which were deemed reasonable by the management during the planning phase, may turn out to be incorrect.
All of the predictions mentioned in this press release are subject to these warnings and other warnings or factors mentioned here, and there is no guarantee that the actual outcomes or progress will occur or, if they do happen to a large extent, that they will produce the expected outcomes for DIV. The anticipated information shared in this press release is valid as of the date of this release and DIV does not assume any responsibility to publicly update or change such information to reflect new events or situations, unless mandated by applicable regulations.
The information provided in this release has not been examined nor endorsed by the Toronto Stock Exchange, therefore the responsibility for its adequacy or accuracy does not lie with them.
More details about the company and its public documents can be found on the SEDAR+ website located at www.sedarplus.ca.
Contact Person: Sean Morrison, President and CEO of Diversified Royalty Corp. can be reached at (236) 521-8470.
Greg Gutmanis is the CFO and VP of Acquisitions at Diversified Royalty Corp. To get in touch with him, you can reach out by dialing (236) 521-8471.
Information from GlobeNewswire, Inc., in the year 2023, obtained from their press releases.
