PermRock Royalty Trust (NYSE:PRT) Plans Dividend Increase – $0.03 Per Share

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Monday, October 21st, Wall Street Journal reports. Shareholders of record on Thursday, October 31st will be given a dividend of 0.0302 per share on Friday, November 15th. This represents a $0.36 annualized dividend and a yield of 8.99%. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.03.

PermRock Royalty Trust Stock Performance

Shares of NYSE:PRT remained flat at $4.03 during midday trading on Tuesday. 27,169 shares of the stock traded hands, compared to its average volume of 41,877. The business’s 50-day moving average is $4.01 and its 200 day moving average is $3.96. The stock has a market cap of $49.05 million, a P/E ratio of 9.37 and a beta of 0.98. PermRock Royalty Trust has a 12-month low of $3.58 and a 12-month high of $6.36.

PermRock Royalty Trust (NYSE:PRT) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $1.67 million for the quarter. PermRock Royalty Trust had a net margin of 85.38% and a return on equity of 6.99%.

PermRock Royalty Trust Company Profile

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.