PrairieSky Royalty Ltd (PSK) Increases Dividend to $0.06 Per Share

PrairieSky Royalty Ltd (TSE:PSK) announced a monthly dividend on Monday, January 15th, Zacks reports. Shareholders of record on Wednesday, January 31st will be given a dividend of 0.063 per share on Thursday, February 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from PrairieSky Royalty’s previous monthly dividend of $0.06.

PrairieSky Royalty (TSE PSK) traded down C$0.10 during midday trading on Thursday, reaching C$31.27. 589,520 shares of the company’s stock were exchanged, compared to its average volume of 401,447. PrairieSky Royalty has a 12 month low of C$27.10 and a 12 month high of C$35.90. The company has a market cap of $7,410.00, a PE ratio of 76.27 and a beta of 1.16.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, October 30th. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.04. PrairieSky Royalty had a net margin of 27.06% and a return on equity of 2.83%.

PSK has been the subject of a number of research analyst reports. GMP Securities increased their price objective on shares of PrairieSky Royalty from C$33.00 to C$35.50 in a report on Wednesday, November 1st. CIBC increased their price objective on shares of PrairieSky Royalty from C$38.00 to C$40.00 in a report on Tuesday, October 31st. National Bank Financial increased their price objective on shares of PrairieSky Royalty from C$28.00 to C$33.00 in a report on Tuesday, October 31st. Barclays increased their price objective on shares of PrairieSky Royalty from C$28.00 to C$32.00 in a report on Monday, October 30th. Finally, BMO Capital Markets raised their target price on shares of PrairieSky Royalty from C$30.00 to C$35.00 in a report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PrairieSky Royalty has an average rating of “Hold” and a consensus price target of C$35.39.

In related news, Director Sheldon Brooks Steeves sold 7,714 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of C$35.62, for a total value of C$274,772.68. Also, Director James Estey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of C$32.82, for a total value of C$3,282,000.00.

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About PrairieSky Royalty

PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.

Dividend History for PrairieSky Royalty (TSE:PSK)

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