Sabine Royalty Trust (NYSE:SBR) Announces Dividend Increase – $0.50 Per Share

Sabine Royalty Trust (NYSE:SBR) announced a monthly dividend on Tuesday, May 5th. Shareholders of record on Friday, May 15th will be given a dividend of 0.4979 per share by the energy company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, May 15th. This is a 53.2% increase from Sabine Royalty Trust’s previous monthly dividend of $0.32.

Sabine Royalty Trust has raised its dividend payment by an average of 0.2%annually over the last three years.

Sabine Royalty Trust Stock Performance

NYSE:SBR traded down $0.27 during trading hours on Tuesday, reaching $78.04. The stock had a trading volume of 45,160 shares, compared to its average volume of 40,309. Sabine Royalty Trust has a 52 week low of $62.23 and a 52 week high of $84.39. The company has a 50 day moving average price of $74.21 and a two-hundred day moving average price of $72.38. The stock has a market capitalization of $1.14 billion, a PE ratio of 15.48 and a beta of 0.23.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.