Permianville Royalty Trust (NYSE:PVL) Announces Dividend Increase - $0.02 Per Share

Key Points

• Permianville Royalty Trust announced a monthly dividend increase to $0.023 per share, reflecting a significant 43.8% rise from its previous dividend of $0.02.
• The dividend will be paid on October 15th to investors of record as of September 30th, contributing to an annualized yield of 13.6%.
• As of Friday, the stock opened at $2.03 and experienced a trading increase of 1.0%, with a market cap of approximately $66.99 million.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) declared a monthly dividend on Thursday, September 18th. Investors of record on Tuesday, September 30th will be paid a dividend of 0.023 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 15.1%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a 43.8% increase from Permianville Royalty Trust's previous monthly dividend of $0.02.

Permianville Royalty Trust Trading Up 2.0%

Shares of NYSE:PVL traded up $0.04 during trading on Tuesday, reaching $1.83. The company's stock had a trading volume of 84,982 shares, compared to its average volume of 69,544. The stock has a market capitalization of $60.23 million, a PE ratio of 18.25 and a beta of 0.56. Permianville Royalty Trust has a 12 month low of $1.30 and a 12 month high of $2.04. The firm's 50 day simple moving average is $1.90 and its two-hundred day simple moving average is $1.71.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $11.22 million during the quarter. Permianville Royalty Trust had a net margin of 5.79% and a return on equity of 7.18%.

About Permianville Royalty Trust

Permianville Royalty Trust operates as a statutory trust. It is involved in the acquisition and holding of net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico.