Sabine Royalty Trust (NYSE:SBR) Declares Dividend Increase - $0.50 Per Share

Sabine Royalty Trust (NYSE:SBR - Get Free Report) announced a monthly dividend on Monday, April 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.5039 per share by the energy company on Tuesday, April 29th. This represents a $6.05 dividend on an annualized basis and a yield of 9.44%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a 67.3% increase from Sabine Royalty Trust's previous monthly dividend of $0.30.

Sabine Royalty Trust Stock Performance

Shares of SBR traded up $2.54 during midday trading on Friday, hitting $64.03. 25,011 shares of the company traded hands, compared to its average volume of 38,459. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $70.20. The firm has a 50 day moving average of $66.17 and a 200-day moving average of $64.50. The stock has a market cap of $933.42 million, a price-to-earnings ratio of 9.87 and a beta of 0.25.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%. The business had revenue of $19.55 million during the quarter.

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Analyst Upgrades and Downgrades

Separately, StockNews.com raised Sabine Royalty Trust from a "hold" rating to a "buy" rating in a research note on Monday, February 10th.

About Sabine Royalty Trust

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.