The Globe and Mail reports in its Thursday, Aug. 24, edition that Freehold Royalties has assets mostly in Western Canada. The Globe's regular guest columnist Gordon Pape writes that the company's primary focus is to acquire and actively manage royalties, while providing a lower-risk income vehicle for shareholders. Freehold is currently paying shareholders nine cents a month ($1.08 a year) to yield 7.5 per cent. Mr. Pape says the question is for how long. Mr. Pape says Freehold's history is not encouraging. At the end of 2015, the monthly dividend was 14 cents ($1.68 a year), and that had been unchanged for five years. Then began a series of cuts that eventually took it down to 1.5 cents (18 cents a year) in the spring of 2020. As conditions improved, the company moved quickly to raise the payout, including four hikes in 2021. It is still, however, significantly below the 2015 level and unlikely to see that again any time soon. Mr. Pape recommended buying Freehold on Dec. 28, 2022. He said it had a "respectable" dividend. Mr. Pape, however, cautioned that Freehold would cut the dividend if business conditions worsened. He said it was in the company's DNA. The shares could then be had for $15.67.