Business
Diversified Royalty Corp. Announces First Quarter 2025 Results and Leadership Update
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX:
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About this update from Diversified Royalty Corp.
[{"type":"text","content":"Diversified Royalty Corp. Announces First Quarter 2025 Results and Leadership Update\n\n\n\n VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) is pleased to announce its financial results for the three months ended March 31, 2025 (“Q1 2025”) and an update to its leadership structure.\n \n\n\n Highlights\n \n\n\n\n The weighted average organic royalty growth\n \n 1\n \n of DIV’s diversified royalty portfolio was 4.9% in Q1 2025, compared to 6.0% for the three months ended March 31, 2024 (“Q1 2024”). The weighted average organic royalty growth\n \n 1\n \n on a consistent currency basis was 3.9% in Q1 2025, compared to 6.0% in Q1 2024.\n \n\n Revenue was $15.6 million in Q1 2025, up 3.7%, compared to $15.1 million in Q1 2024.\n \n\n Adjusted revenue\n \n 1\n \n was $17.0 million in Q1 2025, up 3.6%, compared to $16.4 million in Q1 2024.\n \n\n Distributable cash\n \n 1\n \n was $11.1 million in Q1 2025, up 16.3%, compared to $9.6 million in Q1 2024.\n \n\n Payout ratio\n \n 1\n \n was 93.8% in Q1 2025 on dividends of $0.0625 per share ($0.2500 per share annualized), compared to 97.2% in Q1 2024 on dividends of $0.0611 per share ($0.2444 per share annualized), which is an annualized growth of 2.3% in dividends year-over-year.\n \n\n\n\n\n First Quarter Commentary\n \n\n\n Sean Morrison, President and Chief Executive Officer of DIV stated, “The first quarter of 2025 once again saw a strong performance from our top royalty partner, Mr. Lube + Tires, which continues to produce strong growth across the system, generating SSSG\n \n 6\n \n of 9.5%. DIV’s other variable royalty partners generated mixed results with both Oxford and Mr. Mikes generating positive SSSG in Q1. DIV’s fixed royalty partners, Nurse Next Door, Stratus and BarBurrito made their fixed royalty payments. As previously announced, the deferral of 20% of Sutton’s royalties that began in the fourth quarter of 2024 will continue to the end of 2025, to help Sutton invest in the business, and build on the positive momentum that began in the last quarter. DIV continues to see a decrease in royalty income from AIR MILES® because of the continued softness across the AIR MILES® Rewards ...