PermRock Royalty Trust (NYSE:PRT) Raises Dividend to $0.03 Per Share

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.0303 per share on Friday, December 13th. This represents a $0.36 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from PermRock Royalty Trust’s previous monthly dividend of $0.03.

PermRock Royalty Trust Stock Performance

Shares of PRT stock traded up $0.02 on Tuesday, hitting $4.01. 94,275 shares of the company’s stock traded hands, compared to its average volume of 43,161. PermRock Royalty Trust has a one year low of $3.58 and a one year high of $5.13. The company’s fifty day simple moving average is $3.95 and its 200 day simple moving average is $3.93. The stock has a market capitalization of $48.74 million, a price-to-earnings ratio of 9.55 and a beta of 1.00.

About PermRock Royalty Trust

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.