Permianville Royalty Trust (NYSE:PVL) Announces Dividend Increase - $0.02 Per Share

Permianville Royalty Trust (NYSE:PVL) declared a monthly dividend on Thursday, September 18th. Investors of record on Tuesday, September 30th will receive a dividend of $0.023 per share on Wednesday, October 15th, representing a 43.8% increase from the previous monthly dividend of $0.02. The ex-dividend date is Tuesday, September 30th, and the annualized dividend yield is 13.6%.

The stock opened at $2.03 on Friday, with a 1-year low of $1.30 and a 1-year high of $2.04. The company has a fifty-day simple moving average of $1.89 and a 200-day simple moving average of $1.70. Its market capitalization is $66.99 million, with a P/E ratio of 20.30 and a beta of 0.56.

In its last quarterly earnings report on Thursday, August 14th, the company reported earnings per share of $0.01 and revenue of $11.22 million. It achieved a net margin of 5.79% and a return on equity of 7.18%.

Permianville Royalty Trust operates as a statutory trust, holding net profits interests that entitle it to 80% of the net profits from oil and natural gas production sales from properties located in Texas, Louisiana, and New Mexico.