Black Stone Minerals, L.P. (NYSE:BSM) Raises Dividend to $0.32 Per Share

Key Points

• Black Stone Minerals raised its quarterly dividend to $0.32 per share, up 6.7% from $0.30, with the payment set for August 13 to shareholders of record on August 6.
• The new dividend implies an annualized yield of about 8.8%, but analysts note the payout could become harder to sustain if earnings weaken, given the current payout ratio and expected future coverage.
• The stock was up 1.1% and traded around $14.53, while the company recently posted weak quarterly results with EPS and revenue both missing analyst estimates.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Thursday, August 6th will be paid a dividend of 0.32 per share by the oil and gas producer on Thursday, August 13th. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 6th. This is a 6.7% increase from Black Stone Minerals's previous quarterly dividend of $0.30.

Black Stone Minerals has increased its dividend by an average of 0.1%annually over the last three years. Black Stone Minerals has a payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Black Stone Minerals to earn $1.13 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 106.2%.

Black Stone Minerals Trading Up 1.1%

Shares of NYSE BSM opened at $14.53 on Thursday. Black Stone Minerals has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The firm has a market capitalization of $3.09 billion, a P/E ratio of 11.44 and a beta of 0.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The company's 50 day simple moving average is $13.92 and its 200 day simple moving average is $14.33.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.19). The business had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. On average, analysts predict that Black Stone Minerals will post 0.96 EPS for the current year.

About Black Stone Minerals

Black Stone Minerals L.P. NYSE: BSM is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company's business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.

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