Dorchester Minerals LP (NASDAQ:DMLP) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Monday, April 29th will be paid a dividend of 0.4823 per share by the energy company on Thursday, May 9th. This represents a $1.93 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date of this dividend is Friday, April 26th.
Dorchester Minerals has increased its dividend by an average of 14.6% annually over the last three years and has increased its dividend every year for the last 2 years.
Shares of Dorchester Minerals stock opened at $19.16 on Friday. The company has a market capitalization of $618.48 million, a price-to-earnings ratio of 11.90 and a beta of 1.04. Dorchester Minerals has a one year low of $14.11 and a one year high of $21.15.
A hedge fund recently raised its stake in Dorchester Minerals stock. Geode Capital Management LLC grew its holdings in shares of Dorchester Minerals LP (NASDAQ:DMLP) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,588 shares of the energy company’s stock after buying an additional 4,943 shares during the period. Geode Capital Management LLC owned 0.16% of Dorchester Minerals worth $755,000 as of its most recent SEC filing. Institutional investors own 19.45% of the company’s stock.
Separately, BidaskClub cut Dorchester Minerals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th.
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About Dorchester Minerals
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profits, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests located in 574 counties and parishes in 25 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.
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