Core Viewpoint - Diversified Royalty Corp. has successfully closed a public offering of $9,000,000 in convertible unsecured subordinated debentures, increasing total gross proceeds to $69,000,000 after the full exercise of the over-allotment option [1][3]. Group 1: Offering Details - The offering consisted of an additional $9,000,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures priced at $1,000 per debenture [1]. - The total gross proceeds from the offering, including the over-allotment option, reached $69,000,000, following a previously completed offering of $60,000,000 [1][3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay outstanding amounts under the Corporation's acquisition facility, fund expected additions to royalty pools, and for working capital and general corporate purposes [3]. - Repaying the acquisition facility will increase the amount available for future acquisitions [3]. Group 3: Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [6]. - The company aims to acquire predictable and growing royalty streams from a diverse group of businesses, including brands like Mr. Lube + Tires, Sutton, and AIR MILES® [7]. Group 4: Financial Strategy - The company intends to increase cash flow per share through accretive royalty purchases and growth of purchased royalties [8]. - It aims to maintain a predictable and stable monthly dividend for shareholders, with plans to increase the dividend over time as cash flow per share allows [8].

Core Viewpoint - Diversified Royalty Corp. has successfully completed a bought deal public offering of $60 million in convertible debentures, with an additional $9 million from the Over-Allotment Option, bringing total gross proceeds to approximately $69 million [1][3]. Group 1: Offering Details - The offering consists of 5.75% convertible unsecured subordinated debentures priced at $1,000 each [1]. - The syndicate for the offering was co-led by CIBC Capital Markets and Desjardins Securities Inc., along with several other financial institutions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay outstanding amounts under the Corporation's acquisition facility, fund additions to royalty pools, and for working capital and general corporate purposes [3]. - Repaying the acquisition facility will increase the amount available for future acquisitions [3]. Group 3: Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [6]. - The company currently owns several well-known brands, including Mr. Lube + Tires, Sutton, and AIR MILES® [7]. - The objective of the company is to increase cash flow per share through accretive royalty purchases and to maintain a stable monthly dividend for shareholders [8].

Core Viewpoint - Diversified Royalty Corp. has announced a cash dividend of $0.02375 per common share for February 2026, equating to an annualized rate of $0.285 per share, to be paid on February 27, 2026, to shareholders of record as of February 13, 2026 [1] Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [2] - The company's objective is to acquire predictable and growing royalty streams from a diverse group of businesses and franchisors [2] Business Portfolio - The company currently owns trademarks for several brands, including Mr. Lube + Tires, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, BarBurrito, Cheba Hut, and AIR MILES® [3] - Mr. Lube + Tires is recognized as the leading quick lube service in Canada, while Sutton is a prominent residential real estate brokerage franchisor [3] - Other notable brands include Mr. Mikes, a casual steakhouse chain, and Nurse Next Door, a home care provider operating in Canada, the U.S., and Australia [3] Financial Strategy - The company aims to increase cash flow per share through accretive royalty purchases and the growth of purchased royalties [4] - Diversified Royalty Corp. intends to maintain a predictable and stable monthly dividend for shareholders, with plans to increase the dividend over time as cash flow per share allows [4]

Core Viewpoint - Diversified Royalty Corp. has revised its agreement with underwriters to increase the offering of convertible unsecured subordinated debentures to $60 million due to strong demand [1] Group 1: Offering Details - The offering consists of 5.75% convertible unsecured subordinated debentures priced at $1,000 each, with a total principal amount of $60 million [1] - An Over-Allotment Option allows underwriters to purchase an additional $9 million of debentures for market stabilization purposes within 30 days of the offering's closing [2] - The debentures will mature on March 31, 2031, and will bear interest at an annual rate of 5.75%, payable semi-annually starting September 30, 2026 [3] Group 2: Redemption and Conversion Terms - The debentures are not redeemable before March 31, 2029, and can be redeemed after that date under certain conditions related to the trading price of common shares [4] - Holders can convert the debentures into common shares at a conversion price of $5.35 per share, subject to adjustments [3] Group 3: Use of Proceeds - Net proceeds from the offering will be used to repay outstanding amounts under the acquisition facility, fund additions to royalty pools, and for working capital and general corporate purposes [5] Group 4: Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [9] - The company currently owns several brands, including Mr. Lube + Tires, Sutton, and AIR MILES®, among others [10] - The objective of the company is to increase cash flow per share through accretive royalty purchases and to maintain a stable monthly dividend for shareholders [11]

Core Viewpoint - Diversified Royalty Corp. has announced an agreement with underwriters to issue $50 million in 5.75% convertible unsecured subordinated debentures, with an option for an additional $7.5 million for market stabilization purposes [1][2]. Group 1: Offering Details - The debentures will mature on March 31, 2031, and will bear an annual interest rate of 5.75%, payable semi-annually starting September 30, 2026 [3]. - The conversion price for the debentures into common shares is set at $5.35 per share, subject to adjustments [3]. - The debentures are not redeemable before March 31, 2029, and can be redeemed under specific conditions thereafter [4]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for repaying outstanding amounts under the acquisition facility, funding additions to royalty pools, and for working capital and general corporate purposes [5]. Group 3: Recent Updates - The corporation amended its license agreements with Air Miles Loyalty Inc. and the Bank of Montreal, resulting in a fixed annual royalty payment of $3,925,000, which will grow at a rate of 2.42% per annum starting February 1, 2027 [9]. - A royalty deferral agreement with Sutton Group Realty Services Ltd. was established, allowing for a 20% deferral of royalties, which was later converted into a royalty relief agreement [10]. Group 4: Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [11]. - The corporation currently owns trademarks for several brands, including Mr. Lube + Tires, Sutton, and AIR MILES® [12]. - The objective of the corporation is to increase cash flow per share through accretive royalty purchases and to maintain a stable monthly dividend for shareholders [13].

Core Viewpoint - Diversified Royalty Corp. has amended its licensing agreements with Air Miles and Bank of Montreal, resulting in a more favorable financial arrangement for the company, including guaranteed royalty payments and the potential for future monetization of trademarks [1][2][5]. Licensing Agreement Details - The amended licenses will provide a fixed annual royalty payment of $3,925,000 for 10 years, with payments made quarterly [2]. - The royalty will increase at a rate of 2.42% per annum starting February 1, 2027 [2]. - The royalty payments are guaranteed by Bank of Montreal [2]. Future Rights and Options - AM Royalties Limited Partnership will have the right to sell or license the AIR MILES® trademarks starting February 1, 2032 [3]. - Air Miles has the option to buy out the remaining term of the licenses for a cash payment equal to the net present value of the remaining royalty payments after February 1, 2032 [3]. Financial Impact - The amendment is expected to result in approximately $43.8 million in total royalty payments over the next 10 years, significantly increasing the annual royalty payment by over 20% compared to previous years [5]. - Prior to the amendment, royalty payments had decreased to a low of $3.2 million in 2025, indicating a positive shift in financial outlook for the company [5]. Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [6]. - The company aims to increase cash flow per share through accretive royalty purchases and intends to maintain a stable monthly dividend for shareholders [8].

Core Viewpoint - Diversified Royalty Corp. has announced a cash dividend of $0.02375 per common share for January 2026, equating to an annualized rate of $0.285 per share, to be paid on January 30, 2026 [1] Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [2] - The company's objective is to acquire predictable and growing royalty streams from a diverse group of businesses and franchisors [2] Current Holdings - DIV owns trademarks for several brands including Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, BarBurrito, and Cheba Hut [3] - Mr. Lube + Tires is the leading quick lube service in Canada, while AIR MILES® is the largest coalition loyalty program in the country [3] - Sutton is a leading residential real estate brokerage franchisor, and Mr. Mikes operates casual steakhouses primarily in Western Canada [3] - Nurse Next Door provides home care services across Canada, the U.S., and Australia, while Oxford Learning Centres offers supplemental education services [3] - Stratus Building Solutions is a commercial cleaning service franchise, BarBurrito is the largest quick-service Mexican restaurant chain in Canada, and Cheba Hut is a fast-casual sub sandwich franchise in the U.S. [3] Financial Strategy - The company aims to increase cash flow per share through accretive royalty purchases and growth of purchased royalties [4] - DIV intends to maintain a predictable and stable monthly dividend for shareholders and plans to increase the dividend over time as cash flow per share allows [4]

Core Points - Diversified Royalty Corp. has increased its annual dividend from $0.275 per share to $0.285 per share effective December 1, 2025, with a cash dividend of $0.02375 per common share for the period of December 1, 2025, to December 31, 2025 [1] - The dividend will be paid on December 31, 2025, to shareholders of record as of the close of business on December 15, 2025 [1] Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [2] - The company's objective is to acquire predictable, growing royalty streams from a diverse group of businesses and franchisors [2] Current Holdings - DIV currently owns trademarks for several brands including Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, BarBurrito, and Cheba Hut [3] - Mr. Lube + Tires is the leading quick lube service business in Canada, while AIR MILES® is Canada's largest coalition loyalty program [3] - Other notable holdings include Sutton, a leading residential real estate brokerage franchisor, and BarBurrito, the largest quick service Mexican restaurant chain in Canada [3] Financial Strategy - The company's strategy is to increase cash flow per share through accretive royalty purchases and the growth of purchased royalties [4] - DIV aims to maintain a predictable and stable monthly dividend to shareholders and increase the dividend over time as cash flow per share allows [4]

Core Insights - Diversified Royalty Corp. reported strong financial results for Q3 2025, with a weighted average organic royalty growth of 5.0% and significant contributions from various royalty partners [3][5][19] Financial Performance - Revenue for Q3 2025 was $18.3 million, representing a 13.4% increase compared to Q3 2024, while revenue for the nine months ended September 30, 2025, was $51.7 million, up 7.9% year-over-year [5][19] - Adjusted revenue for Q3 2025 was $19.6 million, a 12.6% increase from Q3 2024, and $55.7 million for the nine months, up 7.5% [5][19] - Distributable cash reached $13.1 million in Q3 2025, an 18.8% increase from Q3 2024, and $36.9 million for the nine months, up 14.6% [5][19] - The payout ratio decreased to 89.3% in Q3 2025 from 94.1% in Q3 2024, reflecting higher distributable cash per share [5][18] Royalty Partner Performance - Mr. Lube + Tires led with a same-store sales growth (SSSG) of 10.3% in Q3 2025, compared to 7.7% in Q3 2024 [8][11] - Oxford Learning Centres achieved SSSG of 4.4% in Q3 2025, up from 1.8% in Q3 2024 [12] - Mr. Mikes reported SSSG of 1.0% in Q3 2025, recovering from a decline of 3.1% in Q3 2024 [11] - AIR MILES® royalty income decreased by 10.7% to $0.8 million in Q3 2025, reflecting ongoing challenges in the rewards program [13] - Sutton's royalty income was $0.9 million, including a 20% royalty deferral [14] Dividend Policy - The board approved an increase in the annualized dividend from $0.2750 to $0.2850 per share, effective December 1, 2025, marking a 3.6% increase [5][19] Company Overview - Diversified Royalty Corp. focuses on acquiring top-line royalties from multi-location businesses and franchisors in North America, aiming for predictable and growing royalty streams [20][22]

Core Points - Diversified Royalty Corp. has announced a cash dividend of $0.02292 per common share for the period of November 1, 2025, to November 30, 2025, which annualizes to $0.275 per common share [1] - The dividend will be paid on November 28, 2025, to shareholders of record as of the close of business on November 14, 2025 [1] - The company will release its earnings results for the three and nine months ended September 30, 2025, on November 12, 2025 [2] Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [3] - The company's objective is to acquire predictable, growing royalty streams from a diverse group of businesses and franchisors [3] Current Holdings - The company currently owns trademarks for several brands, including Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, BarBurrito, and Cheba Hut [4] - Mr. Lube + Tires is the leading quick lube service business in Canada, while AIR MILES® is the largest coalition loyalty program in the country [4] - Sutton is a leading residential real estate brokerage franchisor, and Mr. Mikes operates casual steakhouses primarily in western Canada [4] - Nurse Next Door provides home care services across Canada, the U.S., and Australia, while Oxford Learning Centres offers supplemental education services [4] - Stratus Building Solutions is a commercial cleaning service franchise, BarBurrito is the largest quick-service Mexican restaurant chain in Canada, and Cheba Hut is a fast-casual toasted sub sandwich franchise in the U.S. [4] Financial Strategy - The company's objective is to increase cash flow per share through accretive royalty purchases and the growth of purchased royalties [5] - Diversified Royalty Corp. intends to maintain a predictable and stable monthly dividend for shareholders and aims to increase the dividend over time as cash flow per share allows [5]