Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Tuesday, June 18th, NASDAQ reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.04 per share by the oil and gas producer on Monday, July 15th. This represents a $0.48 annualized dividend and a dividend yield of 8.25%. The ex-dividend date is Thursday, June 27th.
Permian Basin Royalty Trust has raised its dividend payment by an average of 21.3% annually over the last three years and has raised its dividend every year for the last 2 years.
Shares of NYSE PBT opened at $5.82 on Tuesday. The company has a market cap of $271.26 million, a price-to-earnings ratio of 10.58 and a beta of 0.83. Permian Basin Royalty Trust has a 1 year low of $5.45 and a 1 year high of $9.53. The company has a 50-day simple moving average of $6.00.
Separately, TheStreet raised shares of Permian Basin Royalty Trust from a “c+” rating to a “b” rating in a research note on Wednesday, February 27th.
About Permian Basin Royalty Trust
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.
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