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

Posted by Jeff Wilder on Aug 21st, 2024

Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) declared a quarterly dividend on Tuesday, August 20th, Zacks reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.095 per share by the energy company on Monday, September 30th. This represents a $0.38 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06.

Marine Petroleum Trust has raised its dividend by an average of 43.6% annually over the last three years.

Marine Petroleum Trust Price Performance

Shares of NASDAQ:MARPS traded up $0.02 during trading on Wednesday, hitting $4.05. The company’s stock had a trading volume of 393 shares, compared to its average volume of 12,989. The firm has a market cap of $8.10 million, a price-to-earnings ratio of 10.13 and a beta of 0.23. The company has a 50-day moving average of $3.91 and a 200-day moving average of $4.16. Marine Petroleum Trust has a 12 month low of $3.77 and a 12 month high of $6.50.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Marine Petroleum Trust in a research note on Saturday. They set a “hold” rating on the stock.

View Our Latest Research Report on MARPS

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.