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

VANCOUVER, British Columbia, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) is pleased to confirm that DIV’s annual dividend has increased from 24.0 cents per share to 24.5 cents per share effective November 1, 2023 as previously announced on October 4, 2023. In accordance with the dividend increase, DIV is pleased to announce that its 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, which is equal to $0.245 per common share on an annualized basis. The dividend will be paid on November 30, 2023 to shareholders of record as of the close of business on November 15, 2023.

Q3 2023 Earnings Release Date

DIV will release earnings results for the three months and nine months ended September 30, 2023 following the closing of regular trading on the Toronto Stock Exchange on November 8, 2023.

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, Oxford Learning Centres, Stratus Building Solutions and BarBurrito 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 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. Stratus Building Solutions is a leading commercial cleaning service franchise company providing comprehensive environmentally friendly janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is Canada’s largest quick service Mexican restaurant chain.