Sabine Royalty Trust (NYSE:SBR) declared a monthly dividend on Tuesday, February 6th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.1912 per share by the energy company on Wednesday, February 28th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Wednesday, February 14th.
Sabine Royalty Trust has decreased its dividend by an average of 16.7% per year over the last three years.
Sabine Royalty Trust (NYSE SBR) traded down $0.60 during mid-day trading on Friday, hitting $44.20. The stock had a trading volume of 3,942 shares, compared to its average volume of 21,350. Sabine Royalty Trust has a 52 week low of $33.50 and a 52 week high of $50.00. The company has a market capitalization of $656.07, a price-to-earnings ratio of 19.82 and a beta of 0.10.
A hedge fund recently raised its stake in Sabine Royalty Trust stock. State Street Corp grew its stake in Sabine Royalty Trust (NYSE:SBR) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,240 shares of the energy company’s stock after purchasing an additional 140 shares during the quarter. State Street Corp owned approximately 0.07% of Sabine Royalty Trust worth $397,000 at the end of the most recent reporting period. Institutional investors own 8.74% of the company’s stock.
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About Sabine Royalty Trust
Sabine Royalty Trust (the Trust) is an express trust. The Royalty Properties are the assets of the Trust. The Royalty Properties constitute interests in gross production of oil, gas and other minerals free of the costs of production. Southwest Bank acts as trustee of the Trust. The Royalty Properties consist of royalty and mineral interests, including landowner’s royalties, overriding royalty interests, minerals (other than executive rights, bonuses and delay rentals), production payments and any other similar, non-participatory interest, in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma and Texas.
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