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

Sabine Royalty Trust (NYSE:SBR) announced a monthly dividend on Friday, June 5th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.503 per share by the energy company on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Monday, June 15th. This is a 1.0% increase from Sabine Royalty Trust’s previous monthly dividend of $0.50.

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

Sabine Royalty Trust Price Performance

NYSE:SBR traded down $0.56 during trading hours on Friday, reaching $78.00. The company’s stock had a trading volume of 30,228 shares, compared to its average volume of 40,419. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 16.63 and a beta of 0.21. Sabine Royalty Trust has a one year low of $64.57 and a one year high of $84.39. The business’s 50-day moving average is $75.77 and its 200-day moving average is $73.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a report on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Sabine Royalty Trust presently has a consensus rating of “Hold”.

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.