Texas Pacific Land Corporation (TPL) to Distribute Quarterly Dividend of $0.60 on September 15th

Texas Pacific Land Corporation (NYSE:TPL) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.60 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st.

Texas Pacific Land has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 3 years. Texas Pacific Land has a dividend payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Texas Pacific Land to earn $9.64 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 24.9%.

Texas Pacific Land Price Performance

Texas Pacific Land stock opened at $364.29 on Friday. Texas Pacific Land has a 12-month low of $269.23 and a 12-month high of $547.20. The stock has a market capitalization of $25.13 billion, a P/E ratio of 46.43 and a beta of 0.60. The firm’s 50-day moving average is $389.35 and its two-hundred day moving average is $423.73.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. The business had revenue of $246.10 million during the quarter, compared to analyst estimates of $249.50 million. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. As a group, analysts forecast that Texas Pacific Land will post 8.88 EPS for the current year.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.