Sabine Royalty Trust (NYSE:SBR) Declares $0.43 Monthly Dividend

Sabine Royalty Trust (NYSE:SBR) announced a monthly dividend on Thursday, July 2nd. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.4292 per share by the energy company on Wednesday, July 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, July 15th.

Sabine Royalty Trust has increased its dividend payment by an average of 0.2%annually over the last three years.

Sabine Royalty Trust Trading Up 0.7%

SBR stock opened at $73.18 on Friday. Sabine Royalty Trust has a 12-month low of $65.15 and a 12-month high of $84.39. The business’s 50-day moving average is $75.37 and its 200 day moving average is $72.79. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 15.60 and a beta of 0.21.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.