PermRock Royalty Trust (PRT) Declares Monthly Dividend of $0.06
PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Thursday, April 18th, NASDAQ reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.055 per share on Tuesday, May 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.04.
PermRock Royalty Trust has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Analysts expect PermRock Royalty Trust to earn $1.84 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 27.2%.
Shares of NYSE PRT opened at $8.52 on Friday. PermRock Royalty Trust has a 1-year low of $5.45 and a 1-year high of $16.69.
PermRock Royalty Trust Company Profile
PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.
See Also: Net Income
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