Texas Pacific Land Trust (NYSE:TPL) declared 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 yield of 0.21%. The ex-dividend date is Thursday, March 8th. This is an increase from Texas Pacific Land Trust’s previous annual dividend of $0.35.
Texas Pacific Land Trust has increased its dividend payment 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 stock opened at $518.09 on Thursday. Texas Pacific Land Trust has a 1-year low of $267.07 and a 1-year high of $569.99. The firm has a market capitalization of $4,037.11, a PE ratio of 53.36 and a beta of 1.11.
Separately, ValuEngine upgraded Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
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About Texas Pacific Land Trust
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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