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

Posted by Anthony Miller on Nov 19th, 2024

Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.1029 per share by the energy company on Monday, December 30th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 10.42%. 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 increased its dividend payment by an average of 43.6% per year over the last three years.

Marine Petroleum Trust Price Performance

Shares of NASDAQ MARPS traded up $0.05 during mid-day trading on Tuesday, hitting $3.95. The company had a trading volume of 2,452 shares, compared to its average volume of 13,363. The firm has a market cap of $7.90 million, a P/E ratio of 10.54 and a beta of 0.24. Marine Petroleum Trust has a 12 month low of $3.77 and a 12 month high of $6.50. The business’s 50-day simple moving average is $4.06 and its 200-day simple moving average is $4.04.

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Marine Petroleum Trust in a research note on Wednesday, November 13th. They issued a “hold” rating on the stock.

Check Out Our Latest Stock Report on Marine Petroleum Trust

Marine Petroleum Trust Company Profile

(Get Free Report)

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.