Texas Pacific Land Trust (NYSE:TPL) announced an annual dividend on Thursday, February 22nd, Wall Street Journal reports. Shareholders of record on Friday, March 9th will be given a dividend of 1.05 per share by the financial services provider on Friday, March 16th. This represents a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Texas Pacific Land Trust’s previous annual dividend of $0.35.
Texas Pacific Land Trust has raised its dividend by an average of 9.0% annually over the last three years and has increased its dividend every year for the last 6 years.
Texas Pacific Land Trust (NYSE TPL) traded up $5.97 during trading on Thursday, hitting $512.00. The company’s stock had a trading volume of 14,208 shares, compared to its average volume of 21,306. Texas Pacific Land Trust has a 1-year low of $259.00 and a 1-year high of $569.99. The company has a market cap of $3,980.12, a P/E ratio of 52.11 and a beta of 1.12.
Texas Pacific Land Trust (NYSE:TPL) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $2.92 earnings per share for the quarter. Texas Pacific Land Trust had a return on equity of 152.03% and a net margin of 63.97%. The firm had revenue of $38.32 million for the quarter.
Separately, ValuEngine cut Texas Pacific Land Trust from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
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Texas Pacific Land Trust Company Profile
Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Company operates through managing the land segment, which includes sales and leases of such land, and the retention of oil and gas royalties. The Trust derives revenue from all avenues of managing the land, such as oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.
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