Texas Pacific Land Co. (NYSE:TPL) Declares Quarterly Dividend of $1.60

Texas Pacific Land Co. (NYSE:TPL) announced a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 1.60 per share by the financial services provider on Monday, March 17th. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 3rd.

Texas Pacific Land has raised its dividend by an average of 11.7% annually over the last three years. Texas Pacific Land has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings.

Texas Pacific Land Trading Up 5.5 %

Texas Pacific Land stock opened at $1,430.68 on Friday. Texas Pacific Land has a 12-month low of $493.40 and a 12-month high of $1,769.14. The stock has a market cap of $32.88 billion, a P/E ratio of 72.55 and a beta of 1.68. The company has a 50-day moving average price of $1,306.15 and a 200 day moving average price of $1,169.21.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The business had revenue of $185.78 million during the quarter.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.