Texas Pacific Land Corp hikes dividend by 36.8%

Texas Pacific Land Corporation (TPL) will raise its dividend by 36.8 percent to $1.60 quarterly per share in the fourth quarter of 2024. The dividend yield is 0.5%. TPL also paid a $10 per share special dividend this year.

On November 4, 2024, the Company's Board of Directors declared a quarterly cash dividend of $1.60 per share, payable on December 16, 2024 to stockholders of record at the close of business on December 2, 2024. TPL is one of the Dividend Heroes.

TPL keeps reaching new highs in 2024
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The regular dividend yield for TPL is 0.5% with the company announcing three dividend hikes in 2024 for a total increase of 47.7%. Also a $10.00 per share special dividend was paid by TPL on December 16, 2024. The stock has gained 165% YTD.

Texas Pacific Land Trust was created in 1888 as a result of a reorganization of the Texas and Pacific Railway Company following receivership. Holders of Texas and Pacific Railway Company bonds received 3.5 million acres of land in Texas which had been earned by the railroad and pledged as security against bonds. The bondholders created the Trust and converted bonds to shares of proprietary interest in the Trust. The Trust was created to manage and sell the land. Today the Trust is one of the largest landowners in Texas. Texas Pacific Land Trust derives revenue from all avenues of managing the land, i.e. oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales. On January 11, 2021, TPL completed its reorganization from a business trust, Texas Pacific Land Trust, into Texas Pacific Land Corporation. The board of directors has determined to pay dividends quarterly going forward in March, June, September and December of each year, subject to the discretion of the Board.