Diversified Royalty (TSE:DIV) has released an update.
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Diversified Royalty Corp. reported a solid first quarter in 2024 with a revenue increase of 22.2% to $15.1 million and an uptick in distributable cash of 8.4% compared to Q1 2023. The company’s portfolio saw a weighted average organic royalty growth of 6.0%, although this was a decrease from the previous year’s 11.1%. The financial boost was attributed to the recent acquisition of the BarBurrito rights and performance improvements in its existing brands, despite a payout ratio of 97.2% on dividends.
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