– CANADA, Vancouver – Diversified Royalty Corp. (TSX: DIV / DIV.DB) today announced the election of Board member Paula Rogers as its new Chair, succeeding Lorie Haber who is stepping down from the Board effective today.
Ms. Rogers has served as a director of DIV and the Chair of the Audit Committee since 2015. She will continue as Chair of the Audit Committee.
Ms. Rogers said, “We have benefitted immensely from Lorie’s insightful leadership and deep understanding of public company governance. During Lorie’s tenure, he provided astute guidance and oversight for DIV’s fundamental and strategic changes, as well as each of DIV’s royalty transactions. On behalf of the Board, I want to thank Lorie for his 10 years of invaluable service to the Board and best wishes for continued success in the future.”
About Diversified Royalty Corp.
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.
DIV currently owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door, and Oxford Learning Centres trademarks. Mr. Lube is the leading quick lube service business in Canada, with locations across Canada. AIR MILES is Canada’s largest coalition loyalty program with approximately two-thirds of Canadian households actively participating in the AIR MILES Program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes currently operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is one of North America’s fastest-growing home care providers with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchised supplemental education services in Canada and the United States.
DIV intends to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV expects to pay a predictable and stable dividend to shareholders and increase the dividend as cash flow per share increases allow.
For more information: https://www.diversifiedroyaltycorp.com/
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