Mesa Royalty Trust said on July 20, 2023 that its board of directors declared a regular monthly dividend of $0.06 per share ($0.70 annualized). Previously, the company paid $0.14 per share.
Shareholders of record as of July 31, 2023 will receive the payment on October 31, 2023.
At the current share price of $19.98 / share, the stock's dividend yield is 3.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 13.38%, the lowest has been 7.99%, and the highest has been 62.99%. The standard deviation of yields is 9.09 (n=143).
The current dividend yield is 1.09 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.05. 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.
What is the Fund Sentiment?
There are 16 funds or institutions reporting positions in Mesa Royalty Trust. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to MTR is 0.01%, an increase of 59.49%. Total shares owned by institutions decreased in the last three months by 10.97% to 188K shares.
What are Other Shareholders Doing?
Wells Fargo holds 113K shares representing 6.05% ownership of the company. In it's prior filing, the firm reported owning 123K shares, representing a decrease of 8.76%. The firm decreased its portfolio allocation in MTR by 35.65% over the last quarter.
McGowan Group Asset Management holds 33K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 33K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in MTR by 27.30% over the last quarter.
Essex Financial Services holds 17K shares representing 0.90% ownership of the company. In it's prior filing, the firm reported owning 20K shares, representing a decrease of 18.37%. The firm decreased its portfolio allocation in MTR by 38.74% over the last quarter.
Mraz, Amerine & Associates holds 12K shares representing 0.63% ownership of the company. No change in the last quarter.
UBS Group holds 5K shares representing 0.25% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing a decrease of 7.21%. The firm decreased its portfolio allocation in MTR by 47.13% over the last quarter.
Mesa Royalty Trust Background Information
(This description is provided by the company.)
Mesa Royalty Trust operates oil and natural gas properties in Kansas, New Mexico, Colorado, and Wyoming. The Trust provides unit holders with cash distributions and tax credits under Section 29 of the Internal Revenue Code.
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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.
