Texas Pacific Land Trust (NYSE:TPL) announced an annual dividend on Thursday, February 22nd, Wall Street Journal reports. Investors of record on Friday, March 9th will be paid a dividend of 1.05 per share by the financial services provider on Friday, March 16th. This represents a yield of 0.21%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Texas Pacific Land Trust’s previous annual dividend of $0.35.

Texas Pacific Land Trust has raised its dividend by an average of 9.0% annually over the last three years and has increased its dividend every year for the last 6 years.

Shares of Texas Pacific Land Trust (NYSE:TPL) opened at $520.06 on Friday. Texas Pacific Land Trust has a one year low of $259.00 and a one year high of $569.99. The stock has a market cap of $4,052.78, a PE ratio of 53.56 and a beta of 1.11.

Texas Pacific Land Trust (NYSE:TPL) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $2.92 earnings per share (EPS) for the quarter. Texas Pacific Land Trust had a net margin of 63.97% and a return on equity of 152.03%. The business had revenue of $38.32 million during the quarter.

Separately, ValuEngine downgraded shares of Texas Pacific Land Trust from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

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Texas Pacific Land Trust Company Profile

Texas Pacific Land Trust (the Trust) is engaged in managing land, including royalty interests, for the benefit of its owners. The Company operates through managing the land segment, which includes sales and leases of such land, and the retention of oil and gas royalties. The Trust derives revenue from all avenues of managing the land, such as oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.

Dividend History for Texas Pacific Land Trust (NYSE:TPL)

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