Sabine Royalty Trust (NYSE:SBR) Raises Dividend to $0.50 Per Share

Sabine Royalty Trust (NYSE:SBR) declared a monthly dividend on Tuesday, May 5th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.4979 per share by the energy company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, May 15th. This is a 53.2% increase from Sabine Royalty Trust’s previous monthly dividend of $0.32.

Sabine Royalty Trust has increased its dividend by an average of 0.2%annually over the last three years.

Sabine Royalty Trust Price Performance

Shares of Sabine Royalty Trust stock traded down $0.27 on Tuesday, reaching $78.04. The company had a trading volume of 45,160 shares, compared to its average volume of 40,309. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.48 and a beta of 0.23. The firm’s 50-day moving average price is $74.21 and its two-hundred day moving average price is $72.38. Sabine Royalty Trust has a 1 year low of $62.23 and a 1 year high of $84.39.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.