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Diversified Royalty Corp. Q3-2021 Earnings, Price Target Forecast

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Diversified Royalty Corp. (DIV.UN) is in the business of acquiring royalties from multi-location businesses and franchisors in North America and Australia. DIV currently owns the Mr. Lube, AIR MILES , Sutton, Mr. Mikes, Nurse Next Door and Oxford Learning Centres trademarks. Mr. Lube is a quick lube service business, 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.

The royalty structures are set up to provide incentives for a Royalty Partner to continue growing its business while retaining control of its business. Revenues are comprised of royalty entitlements on investments in operating companies, currently there are six companies held in the investment portfolio valued at $376M. These included Mr. Lube Canada(48% of revenues), Air Miles(15%), Nurse Next Door(11%), Sutton Realty Services(10%), Oxford Mr. Mikes(9%), and Oxford Learnings Centres(7%).

Royalty Partners

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