Permianville Royalty Trust (NYSE:PVL) announced a monthly dividend on Tuesday, May 21st, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.007 per share on Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Thursday, May 30th.
Permianville Royalty Trust stock opened at $3.15 on Wednesday. Permianville Royalty Trust has a 12-month low of $1.70 and a 12-month high of $3.80.
Separately, Zacks Investment Research cut shares of Permianville Royalty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th.
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Permianville Royalty Trust operates a statutory trust. It owns a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico. The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.
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