PermRock Royalty Trust (NYSE:PRT) to Issue Dividend Increase – $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 dividend yield of 9.07%. 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 opened at $4.01 on Thursday. The firm’s 50 day moving average price is $3.96 and its two-hundred day moving average price is $3.93. The stock has a market cap of $48.42 million, a PE ratio of 9.55 and a beta of 1.00. PermRock Royalty Trust has a 52-week low of $3.58 and a 52-week high of $5.10.

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.