Texas Pacific Land Corporation (NYSE:TPL) Plans $0.60 Quarterly Dividend

Texas Pacific Land Corporation (NYSE:TPL) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.60 per share by the financial services provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st.

Texas Pacific Land has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 3 years. Texas Pacific Land has a payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Texas Pacific Land to earn $9.64 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 24.9%.

Texas Pacific Land Stock Down 3.7%

NYSE:TPL opened at $380.74 on Thursday. Texas Pacific Land has a 1-year low of $269.23 and a 1-year high of $547.20. The firm has a market capitalization of $26.26 billion, a price-to-earnings ratio of 52.16 and a beta of 0.60. The stock has a fifty day simple moving average of $394.55 and a 200 day simple moving average of $422.16.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.05. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%.The firm had revenue of $246.10 million for the quarter, compared to the consensus estimate of $249.50 million. Equities analysts predict that Texas Pacific Land will post 8.88 earnings per share for the current year.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.