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Diversified Royalty Corp. Announces Fourth Quarter and Year End 2024 Results
VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX:&#...
About this update from Diversified Royalty Corp.
[{"type":"text","content":"Diversified Royalty Corp. Announces Fourth Quarter and Year End 2024 Results\n\n\n\n VANCOUVER, British Columbia, March 24, 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 (“Q4 2024”) and year ended December 31, 2024.\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 5.9% in Q4 2024 and 5.0% for the year ended December 31, 2024, compared to 6.8% for the three months ended December 31, 2023 (“Q4 2023”) and 8.4% for the year ended December 31, 2023. The weighted average organic royalty growth\n \n 1\n \n on a constant currency basis was 5.4% in Q4 2024 and 4.8% for the year ended December 31, 2024.\n \n\n Revenue was $17.0 million in Q4 2024 and $65.0 million for the year ended December 31, 2024, up 3.9% and 15.0%, respectively, compared to the same periods in 2023.\n \n\n Adjusted revenue\n \n 1\n \n was $18.4 million in Q4 2024 and $70.2 million for the year ended December 31, 2024, up 3.8% and 14.0%, respectively, compared to the same periods in 2023.\n \n\n Distributable cash\n \n 1\n \n was $12.6 million in Q4 2024 and $44.8 million for the year ended December 31, 2024, up 21.5% and 17.5%, respectively, compared to the same periods in 2023.\n \n\n Payout ratio\n \n 1\n \n was 82.3% in Q4 2024 based on dividends of $0.0625 per share for the quarter, compared to 84.2% in Q4 2023 based on dividends of $0.0609 per share for the comparable quarter and 90.0% for the year ended December 31, 2024 based on dividends of $0.2487 per share for the year, compared to 90.2% based on dividends of $0.2415 per share for the comparable year.\n \n\n In celebration of DIV’s 10-year anniversary, we are proud to recognize the following:\n \n\n On October 6, 2014, we announced our name change to “Diversified Royalty Corp.”\n \n\n DIV’s very first dividend was $0.0157 per share, paid on November 28, 2014\n \n\n The total dividends paid to shareholders since then is $269.1 million, or $2.25 per share\n \n\n\n\n\n\n\n Fourth Quarter Commentary\n \n\n\n Sean Morrison, President and Chief Executive Officer of DIV stated, “Overall, DIV is pleased with how ...