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

Texas Pacific Land Co. (NYSE:TPL) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors 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 of this dividend is Monday, March 3rd.

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

Texas Pacific Land Price Performance

Shares of TPL traded up $38.42 during mid-day trading on Thursday, hitting $1,443.29. The company’s stock had a trading volume of 148,983 shares, compared to its average volume of 124,935. The firm has a 50-day moving average price of $1,279.22 and a 200 day moving average price of $1,144.34. Texas Pacific Land has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The stock has a market capitalization of $33.17 billion, a price-to-earnings ratio of 74.05 and a beta of 1.68.

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

About Texas Pacific Land

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.