Texas Pacific Land Corporation Plans Quarterly Dividend of $1.60 (NYSE:TPL)

Key Points

• Texas Pacific Land Corporation announced a quarterly dividend of $1.60 per share, to be paid on September 16th to stockholders of record as of September 2nd, reflecting a 0.7% dividend yield.
• The company's earnings per share for the last quarter were $5.05, which missed analysts' expectations of $5.48, and it reported a revenue of $187.54 million versus anticipated $198 million.
• Texas Pacific Land's stock price dropped by 8.4% to $870.30, with a 52-week trading range from $752.70 to $1,769.14.

Texas Pacific Land Corporation (NYSE:TPL - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 1.60 per share by the financial services provider on Tuesday, September 16th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Texas Pacific Land has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings.

Texas Pacific Land Stock Down 8.4%

NYSE TPL traded down $80.32 on Thursday, reaching $870.30. The company had a trading volume of 300,576 shares, compared to its average volume of 138,405. Texas Pacific Land has a 52 week low of $752.70 and a 52 week high of $1,769.14. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 43.54 and a beta of 1.14. The stock's 50 day moving average is $1,043.20 and its 200-day moving average is $1,226.90.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The company had revenue of $187.54 million during the quarter, compared to analyst estimates of $198.00 million. Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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