Diversified Royalty (TSE:DIV) has released an update.
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Diversified Royalty Corp. reported a robust financial performance with record adjusted revenues for the fourth quarter of 2023 at $17.7 million and $61.6 million for the year, marking 26.4% and 22.7% increases respectively from the previous year. The company’s distributable cash also saw a significant rise, with an 11.5% jump in Q4 2023 and an 18% rise for the full year. These results were bolstered by the addition of new locations to the Mr. Lube + Tires royalty pool, a new trademark acquisition with BarBurrito Restaurants Inc., and a successful public offering to repay credit facility debts.
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