(Source: Texas Pacific Land Corp.)
Texas Pacific Land Corp. (TPL) declared a $10 per share special dividend, representing the company’s largest dividend and a 50% increase compared to the company’s most recent prior split-adjusted special dividend.
The special dividend is payable July 15 to shareholders of record by July 1.
Texas Pacific's special dividend will cost the company approximately $230 million, a TPL spokesperson told Hart Energy.
Texas Pacific’s most recent quarterly dividend was $1.17 per share.
TPL’s CEO Tyler Glover said the company set a target cash and cash equivalents balance of approximately $700 million.
“Above this targeted level, TPL will seek to deploy the majority of its free cash flow towards share repurchases and dividends,” Glover said.
Recommended Reading
What's Affecting Oil Prices This Week? (Feb. 24, 2025)
2025-02-24 - Net long positions of WTI have decreased by 59% since Jan. 21 and are 61% below the level seen on July 16, 2024, when the price of WTI was $80.76.
What's Affecting Oil Prices This Week? (March 31, 2025)
2025-03-31 - For the upcoming week, Stratas Advisors predict that the price of Brent crude will move sideways and struggle amid concerns and uncertainties about the impact of the tariffs imposed by the Trump Administration.
What's Affecting Oil Prices This Week? (March 17, 2025)
2025-03-17 - The price of Brent crude could get a boost from Trump’s threats of sanctions on Russia, Iran and Venezuela, but it is doubtful it will break $72/bbl, Stratas Advisors says.
What's Affecting Oil Prices This Week? (Feb. 10, 2025)
2025-02-10 - President Trump calls for members of OPEC+ and U.S. shale producers to supply more oil to push down oil prices to the neighborhood of $45/bbl.
What's Affecting Oil Prices This Week? (Jan. 27, 2025)
2025-01-27 - For the upcoming week, Stratas Advisors predict that the price of Brent crude will threaten $75.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.