Diversified Royalty Corp. Announces Cash Dividend for July 2024

VANCOUVER, British Columbia, July 03, 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 approved a cash dividend of $0.02083 per common share for the period July 1, 2024 to July 31, 2024, which is equivalent to $0.25 per common share on an annualized basis. The dividend will be paid on July 31, 2024 to shareholders of record at the close of business on July 15, 2024.

About Diversified Royalty Corp.

DIV is a multi-royalty company engaged in the business of acquiring premium royalty income from well-managed multi-location businesses and franchisors across North America. DIV’s objective is to acquire predictable and growing royalty streams from a diverse group of multi-location businesses and franchisors.

DIV currently owns the trademarks Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito. Mr. Lube + Tires is Canada’s leading quick-lube service company with locations across the country. AIR MILES® is Canada’s largest coalition loyalty program. Sutton is one of Canada’s leading residential real estate brokerage franchise companies. Mr. Mikes operates casual dining steakhouses primarily in communities across Western Canada. Nurse Next Door is a home care provider with locations across Canada, the United States and Australia. Oxford Learning Centres is one of Canada’s leading franchisee training services. Stratus Building Solutions is a leading commercial cleaning services franchise company providing comprehensive janitorial, building cleaning and environmentally friendly office cleaning services primarily in the United States. BarBurrito is the largest Mexican fast food chain in Canada.

DIV’s objective is to increase cash flow per share by making profitable royalty purchases and by growing purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and to increase the dividend over time, in each case based on cash flow per share.

Forward-Looking Statements

Certain statements contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate,” “continue,” “estimate,” “expect,” “intend,” “may,” “will,” “project,” “should,” “believe,” “confident,” “plan,” and “intend” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. More specifically, forward-looking information contained in this press release includes, but is not limited to, statements made in connection with: the amount and timing of the July 2024 dividend to be paid to DIV shareholders; DIV’s objective to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance or achievements of DIV to be materially different from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information included in this press 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 pay monthly dividends to holders of its common stock; or that DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that the forward-looking information included in this press release is not a guarantee of future performance and undue reliance should not be placed on such forward-looking information. Further information on the risks and uncertainties affecting DIV’s business and those of its royalty partners is available in the “Risk Factors” section of its Annual Information Form dated March 21, 2024 and in its most recent Management’s Discussion and Analysis, copies of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

In preparing the forward-looking information contained herein, management has assumed, among other things, that DIV will generate sufficient cash flows from its royalties to service its debt and pay dividends to shareholders; and that business and economic conditions affecting DIV and its royalty partners will continue substantially in the normal course of events, including, without limitation, general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

All forward-looking statements contained in this press release are qualified by these and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or effects on DIV. The forward-looking information contained in this press release is made as of the date of this press release and DIV undertakes no obligation to publicly update or revise such information to reflect new events or circumstances, except as required by applicable law.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Further information

Additional information regarding the Company and other public documents is available on SEDAR+ at www.sedarplus.com.

Contact:
Sean Morrison, President and CEO
Diversified Royalty Company
(236) 521-8470

Greg Gutmanis, CFO and Vice President of Acquisitions
Diversified Royalty Company
(236) 521-8471