Subject to the completion of the Acquisition, Diversified Royalty Corp.'s board of directors has approved an increase in its annual dividend from 22.25 cents per share to 23 cents per share. The dividend increase will take effect beginning in the month following the completion of the Acquisition. DIV estimates its pro forma payout ratio will be just under 100% following the dividend increase.

The company announced that Anita Anand has stepped down from its board of directors effective November 1, 2019, following her election as a Member of Parliament of Canada on October 21, 2019.