Sabine Royalty Trust (NYSE:SBR – Get Free Report) declared a monthly dividend on Tuesday, May 5th. Stockholders of record on Friday, May 15th will be given a dividend of 0.4979 per share by the energy company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, May 15th. This is a 53.2% increase from Sabine Royalty Trust’s previous monthly dividend of $0.32.
Sabine Royalty Trust has increased its dividend payment by an average of 0.2%per year over the last three years.
Sabine Royalty Trust Stock Performance
Sabine Royalty Trust stock opened at $78.04 on Wednesday. The firm’s 50-day moving average is $74.37 and its 200-day moving average is $72.45. Sabine Royalty Trust has a 1 year low of $62.23 and a 1 year high of $84.39. The company has a market cap of $1.14 billion, a P/E ratio of 15.48 and a beta of 0.23.
About Sabine Royalty Trust
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.
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