Permianville Royalty Trust (NYSE:PVL) Raises Dividend to $0.02 Per Share

Permianville Royalty Trust (NYSE:PVL) announced a monthly dividend on Tuesday, June 16th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.017 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 21.4% increase from Permianville Royalty Trust’s previous monthly dividend of $0.01.

Permianville Royalty Trust Price Performance

Shares of PVL opened at $1.72 on Friday. The stock has a market capitalization of $56.59 million, a price-to-earnings ratio of 11.43 and a beta of 0.11. Permianville Royalty Trust has a 1 year low of $1.61 and a 1 year high of $2.04. The business’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.83.

Permianville Royalty Trust (NYSE:PVL) last posted its earnings results on Friday, May 15th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%. The firm had revenue of $11.05 million during the quarter, compared to analyst estimates of $8.90 million.

About Permianville Royalty Trust

Permianville Royalty Trust is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located primarily in the Permian Basin of West Texas and southeastern New Mexico. Organized as a statutory royalty trust, it provides investors with exposure to production revenues from established hydrocarbon reservoirs without engaging directly in exploration or development activities.

The trust’s assets consist of net profits interests in wells that produce crude oil, natural gas and natural gas liquids.