Marine Petroleum Trust (NASDAQ:MARPS) Declares Dividend Increase – $0.10 Per Share

Marine Petroleum Trust (NASDAQ:MARPS) announced a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.1029 per share by the energy company on Monday, December 30th. This represents a $0.41 annualized dividend and a dividend yield of 10.19%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.09.

Marine Petroleum Trust has raised its dividend by an average of 43.6% annually over the last three years.

Marine Petroleum Trust Stock Performance

Shares of MARPS opened at $4.04 on Thursday. The firm has a market cap of $8.11 million, a PE ratio of 10.73 and a beta of 0.24. The firm’s 50 day moving average price is $4.07 and its 200 day moving average price is $4.03. Marine Petroleum Trust has a twelve month low of $3.77 and a twelve month high of $6.50.

Marine Petroleum Trust (NASDAQ:MARPS) last issued its quarterly earnings data on Monday, September 30th. The energy company reported $0.09 earnings per share for the quarter. The firm had revenue of $0.23 million for the quarter. Marine Petroleum Trust had a net margin of 68.94% and a return on equity of 74.22%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Marine Petroleum Trust in a research report on Thursday, November 21st. They set a “hold” rating on the stock.

Marine Petroleum Trust Company Profile

Marine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the United States. It has overriding royalty interest in oil and natural gas leases in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas. Marine Petroleum Trust was founded in 1956 and is based in Dallas, Texas.