Texas Pacific Land Co. Plans Quarterly Dividend of $1.60 (NYSE:TPL)

Texas Pacific Land Co. (NYSE:TPL) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 1.60 per share by the financial services provider on Monday, March 17th. This represents a $6.40 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd.

Texas Pacific Land has increased its dividend payment by an average of 11.7% annually over the last three years. Texas Pacific Land has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings.

Texas Pacific Land Stock Performance

Shares of TPL stock traded up $38.42 on Thursday, reaching $1,443.29. 148,983 shares of the company’s stock traded hands, compared to its average volume of 124,935. The company has a market capitalization of $33.17 billion, a P/E ratio of 74.05 and a beta of 1.68. Texas Pacific Land has a 12-month low of $493.40 and a 12-month high of $1,769.14. The business’s 50 day moving average price is $1,279.22 and its two-hundred day moving average price is $1,144.34.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The company had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.57% and a net margin of 65.34%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.