05:10 PM EDT, 03/21/2024 (MT Newswires) -- Diversified Royalty ( BEVFF ) on Thursday said its fourth-quarter loss widened despite higher revenue.

The company said it lost C$9.1 million in the period, compared with loss of C$4.5 million in the year-prior quarter.

Revenue rose 26% to C$16.4 million from C$12.7 million.

"The fourth quarter of 2023 once again saw strong performances across most of our royalty partners. Mr. Lube + Tires, our largest royalty partner, continues to produce strong double-digit growth," chief executive Sean Morrison said in a release.

The company's shares closed up C$0.01 to C$2,87.