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Diversified Royalty Corp. Declares November 2023 Cash Dividend and Q3 2023 Earnings Release Date

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Diversified Royalty Corp. Announces November 2023 Cash Dividend and Q3 2023 Earnings Release Date

Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) has confirmed an increase in its annual dividend from 24.0 cents per share to 24.5 cents per share, effective November 1, 2023. The board of directors has approved a cash dividend of $0.02042 per common share for the period of November 1, 2023, to November 30, 2023, equivalent to $0.245 per common share on an annualized basis. Shareholders of record as of November 15, 2023, will receive the dividend on November 30, 2023. In addition, Diversified Royalty Corp. will release its earnings results for the three months and nine months ended September 30, 2023, on November 8, 2023, following the close of regular trading on the Toronto Stock Exchange. Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. The company aims to acquire predictable, growing royalty streams from a diverse group of businesses and franchisors. Currently, Diversified Royalty Corp. owns trademarks such as Mr. Lube, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito. For more information, please contact Sean Morrison, President and Chief Executive Officer, at (236) 521-8470, or Greg Gutmanis, Chief Financial Officer and VP Acquisitions, at (236) 521-8471.

Implications of Diversified Royalty Corp.'s Dividend Increase and Earnings Release on New Businesses

The recent announcement by Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) regarding its annual dividend increase and upcoming Q3 2023 earnings release could have significant implications for new businesses. The company's strategy of acquiring top-line royalties from a diverse range of well-managed businesses and franchisors in North America is a model that new businesses could emulate to ensure predictable, growing revenue streams.

Lessons from Diversified Royalty Corp.'s Strategy

The company's approach demonstrates the viability of investing in multiple sectors, thereby spreading risk and increasing potential returns. This diversification strategy could be particularly beneficial for new businesses seeking to establish a strong financial foundation in their early stages.
The Power of Dividends
Moreover, Diversified Royalty Corp.'s decision to increase its annual dividend from 24.0 cents per share to 24.5 cents per share sends a positive signal to shareholders about the company's financial health and future prospects. This could serve as a valuable lesson for new businesses about the importance of maintaining investor confidence through regular and increasing dividend payments, as cash flow allows. In conclusion, Diversified Royalty Corp.'s recent announcements provide several key takeaways for new businesses, particularly regarding diversification and investor relations strategies.
Story First Published at: https://financialpost.com/globe-newswire/diversified-royalty-corp-announces-november-2023-cash-dividend-and-q3-2023-earnings-release-date
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