Texas Pacific Land Corporation (NYSE:TPL) Increases Dividend to $0.60 Per Share

Texas Pacific Land Corporation (NYSE:TPL) announced a quarterly dividend on Tuesday, February 10th. Stockholders of record on Monday, March 2nd will be given a dividend of 0.60 per share by the financial services provider on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 12.5% increase from Texas Pacific Land’s previous quarterly dividend of $0.53.

Texas Pacific Land has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 3 years. Texas Pacific Land has a dividend payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded up $11.74 during midday trading on Friday, hitting $524.28. 794,850 shares of the stock were exchanged, compared to its average volume of 635,769. Texas Pacific Land has a 1 year low of $269.23 and a 1 year high of $547.20. The firm has a market cap of $36.14 billion, a P/E ratio of 75.15 and a beta of 0.95. The company has a 50 day moving average price of $362.67 and a two-hundred day moving average price of $325.50.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The firm had revenue of $211.60 million during the quarter, compared to analyst estimates of $204.00 million.

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.