Cross Timbers Royalty Trust (NYSE:CRT) to Issue Monthly Dividend of $0.06

Key Points

• Cross Timbers Royalty Trust declared a monthly dividend of $0.0614 per share, payable on August 14 to shareholders of record on July 31. The payout implies an annualized yield of about 7.6%.
• The new dividend is a 39% increase from the trust’s previous monthly payout of $0.04. However, the company has kept its dividend flat on average over the last three years.
• The stock was trading around $9.71 when the announcement was made, near its recent range of $7.07 to $11.10. The trust also reported $0.08 EPS in its latest quarterly results, with strong margins and returns on equity.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) declared a monthly dividend on Tuesday, July 21st. Stockholders of record on Friday, July 31st will be paid a dividend of 0.0614 per share by the oil and gas company on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, July 31st. This is a 39.0% increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.04.

Cross Timbers Royalty Trust has decreased its dividend by an average of 0.0%annually over the last three years.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT stock traded up $0.06 during mid-day trading on Tuesday, reaching $9.71. 8,387 shares of the company's stock traded hands, compared to its average volume of 31,647. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The firm has a 50 day moving average price of $9.92 and a two-hundred day moving average price of $9.61. The firm has a market capitalization of $58.29 million, a PE ratio of 17.99 and a beta of -0.03.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The business had revenue of $0.77 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold".

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust NYSE: CRT is a Delaware statutory trust that holds royalty interests in a portfolio of onshore oil and natural gas properties. The trust was established in June 2005 through a contribution of assets by Chesapeake Energy Corporation. It earns revenue by collecting overriding royalty and net profit interests carved out of producing leases and then distributing those receipts to its unitholders on a quarterly basis.

The underlying assets of the trust consist primarily of oil, natural gas and natural gas liquids reserves located in several Texas counties, including Erath, Stephens, Comanche and Palo Pinto.

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