Diversified Royalty Corp. Declares August 2024 Cash Dividend and Q2 2024 Earnings Release Date

VANCOUVER, British Columbia, Aug. 2, 2024 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” 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 from August 1, 2024 to August 31, 2024, representing $0.25 per common share on an annualized basis. The dividend will be paid on August 30, 2024 to shareholders of record as of the close of business on August 15, 2024.

Date of publication of results for Q2 2024

DIV will report its financial results for the three and six months ended June 30, 2024 after the close of regular trading on the Toronto Stock Exchange on August 9, 2024.

About Diversified Royalty Corp.

DIV is a multi-royalty corporation dedicated to acquiring the highest royalties from well-run multi-location businesses and franchisors in North America. DIV’s goal is to acquire predictable, 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 a leading fast lubrication company in Canada, with locations throughout Canada. AIR MILES® is the largest Canadian coalition loyalty program. Sutton is one of the leading residential real estate brokerage franchisees in Canada. Mr. Mikes operates casual steakhouses primarily in communities in Western Canada. Nurse Next Door is a home care provider with locations throughout Canada and the United States, as well as Australia. Oxford Learning Centres is one of Canada’s leading educational supplemental services franchisees. Stratus Building Solutions is a leading commercial cleaning franchise providing comprehensive, environmentally friendly cleaning, building cleaning and office cleaning services primarily in the United States. BarBurrito is the largest fast food restaurant chain in Canada.

DIV’s objective is to increase cash flow per share through accretive royalty purchases and through growth in 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 in line with 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 that 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,” “certain,” “plan” and “intends” and similar expressions is intended to identify forward-looking information, although not all forward-looking information contains these identifying words. In particular, forward-looking information in this press release includes, but is not limited to, statements made with respect to: the amount and timing of the August 2024 dividend payment to DIV stockholders; DIV’s objective of continuing 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 the actual results or events, performance or achievements of DIV to differ materially from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information contained in this press release are reasonable, but no assurance can be given that such expectations will prove to be correct. In particular, no assurance can be given that: DIV will be able to make monthly dividend payments to holders of its common stock; or DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that the forward-looking information contained in this press release is not a guarantee of future results, and undue reliance should not be placed on such forward-looking information. For further information about the risks and uncertainties affecting DIV’s business and the business of its licensing partners, please see the “Risk Factors” section of the Annual Information Form dated March 21, 2024 and the most recent Management’s Discussion and Analysis, copies of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

In formulating the forward-looking information contained herein, management has assumed, among other things, that DIV will generate sufficient cash flow from royalties to service its debt and pay dividends to stockholders; and that business and economic conditions affecting DIV and its royalty partners will continue substantially in their normal course, including, without limitation, general industry conditions, the general level 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 cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that actual results or events will be achieved or, even if substantially achieved, that they will have the expected consequences or effects on DIV. The forward-looking statements contained in this press release are 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 THIS INFORMATION AND ACCEPTS NO RESPONSIBILITY FOR ITS RESPONSIBILITY OR ACCURACY.

Additional information

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

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

Greg Gutmanis, CFO and VP of Acquisitions
Diversified Royalty Corp.
(236) 521-8471