Sabine Royalty Trust (NYSE:SBR) Announces Monthly Dividend of $0.32

Key Points

• Sabine Royalty Trust announced a monthly dividend of $0.325 per share, payable April 29 to shareholders of record on April 15 (ex-dividend April 15); this is a 13.5% increase from the prior monthly dividend and implies an annualized yield of 5.2%.
• The trust owns non-operating royalty interests in a portfolio of oil and gas properties and distributes net production proceeds to unitholders on a monthly basis.
• Shares traded down 0.4% to $75.49, with a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.97, and a 52-week range of $62.23–$84.39.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) announced a monthly dividend on Thursday, April 2nd. Shareholders of record on Wednesday, April 15th will be paid a dividend of 0.325 per share by the energy company on Wednesday, April 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Wednesday, April 15th. This is a 13.5% increase from Sabine Royalty Trust's previous monthly dividend of $0.29.

Sabine Royalty Trust has increased its dividend by an average of 0.2%per year over the last three years.

Sabine Royalty Trust Stock Down 0.4%

Shares of NYSE:SBR traded down $0.29 on Monday, reaching $75.49. 29,316 shares of the company's stock were exchanged, compared to its average volume of 40,931. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.97 and a beta of 0.30. Sabine Royalty Trust has a fifty-two week low of $62.23 and a fifty-two week high of $84.39. The business's 50-day moving average is $72.93 and its two-hundred day moving average is $72.39.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.