Sabine Royalty Trust - Unit said on August 4, 2023 that its board of directors declared a regular monthly dividend of $0.30 per share ($3.58 annualized). Previously, the company paid $0.32 per share.
Shareholders of record as of August 15, 2023 will receive the payment on August 29, 2023.
At the current share price of $68.53 / share, the stock's dividend yield is 5.23%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.14%, the lowest has been 5.21%, and the highest has been 13.55%. The standard deviation of yields is 1.75 (n=236).
The current dividend yield is 1.66 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 140 funds or institutions reporting positions in Sabine Royalty Trust - Unit. This is an increase of 4 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to SBR is 0.12%, a decrease of 75.49%. Total shares owned by institutions decreased in the last three months by 2.43% to 2,019K shares.
What are Other Shareholders Doing?
Fayez Sarofim holds 248K shares representing 1.70% ownership of the company. In it's prior filing, the firm reported owning 260K shares, representing a decrease of 4.88%. The firm decreased its portfolio allocation in SBR by 10.11% over the last quarter.
DIV - Global X SuperDividend U.S. ETF holds 177K shares representing 1.22% ownership of the company. In it's prior filing, the firm reported owning 307K shares, representing a decrease of 73.19%. The firm decreased its portfolio allocation in SBR by 43.63% over the last quarter.
King Luther Capital Management holds 153K shares representing 1.05% ownership of the company. No change in the last quarter.
Citadel Advisors holds 56K shares representing 0.38% ownership of the company. In it's prior filing, the firm reported owning 16K shares, representing an increase of 70.87%. The firm increased its portfolio allocation in SBR by 135.65% over the last quarter.
Chilton Capital Management holds 51K shares representing 0.35% ownership of the company. In it's prior filing, the firm reported owning 50K shares, representing an increase of 1.27%. The firm decreased its portfolio allocation in SBR by 21.63% over the last quarter.
Sabine Royalty Trust Background Information
(This description is provided by the company.)
Sabine Royalty Trust (the Trust) is an express trust formed to receive Sabine Corporation's royalty and mineral interests, including landowner's royalties, overriding royalty interests, minerals (other than executive rights, bonuses and delay rentals), production payments and any 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 (the Royalty Properties). The conveyances of the Royalty Properties to the Trust were effective with respect to production on January 1, 1983. The current trustee of the Trust is Simmons Bank.
Additional reading:
- SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR AUGUST 2023
- SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JULY 2023
- SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JUNE 2023
- SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR MAY 2023
- SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR APRIL 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
