Texas Pacific Land Corporation Announces Quarterly Dividend

Rhea-AI Summary

Texas Pacific Land Corporation (NYSE: TPL) announced on February 10, 2023, that its Board of Directors declared a quarterly cash dividend of $3.25 per share. This dividend is payable on March 15, 2023, to stockholders of record as of March 8, 2023. As one of the largest landowners in Texas, TPL holds approximately 874,000 acres of land, primarily in the Permian Basin, generating revenue through land use payments, royalties from oil and gas, and commercial leases. The company's diverse revenue streams highlight its strong position in the market.

Positive

• Declared a quarterly cash dividend of $3.25 per share, showcasing strong financial health.
• Diverse revenue streams from land use, royalties, and commercial leases indicating stable income opportunities.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Texas Pacific Land Corporation (NYSE: TPL) (the “Company” or “TPL”) today announced that on February 10, 2023, the Board of Directors declared a quarterly cash dividend of $3.25 per share, payable on March 15, 2023 to stockholders of record at the close of business on March 8, 2023.

About Texas Pacific Land Corporation

Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 874,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provide revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.

Visit TPL at http://www.TexasPacific.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005502/en/

Investor Relations

IR@TexasPacific.com

Source: Texas Pacific Land Corporation

FAQ

What is the dividend amount declared by Texas Pacific Land Corporation?

The dividend amount declared is $3.25 per share.

When is the dividend payable for Texas Pacific Land Corporation?

The dividend is payable on March 15, 2023.

What is the record date for the dividend of Texas Pacific Land Corporation?

The record date for the dividend is March 8, 2023.

What is the significance of Texas Pacific Land Corporation's land ownership?

The company owns approximately 874,000 acres in Texas, primarily in the Permian Basin, generating various revenue opportunities.