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

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Friday, April 19th, investing.com reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.0307 per share on Tuesday, May 14th. This represents a $0.37 annualized dividend and a yield of 9.07%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.02.

PermRock Royalty Trust Price Performance

Shares of NYSE PRT opened at $4.06 on Friday. The company has a market capitalization of $49.41 million, a price-to-earnings ratio of 7.96 and a beta of 0.93. The business has a 50-day moving average of $4.28 and a two-hundred day moving average of $4.69. PermRock Royalty Trust has a 1 year low of $3.99 and a 1 year high of $6.99.

PermRock Royalty Trust (NYSE:PRT) last announced its quarterly earnings results on Monday, April 1st. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $1.51 million during the quarter. PermRock Royalty Trust had a return on equity of 8.03% and a net margin of 87.13%.

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.