Marine Petroleum Trust (NASDAQ:MARPS) Declares Quarterly Dividend of $0.20

Marine Petroleum Trust (NASDAQ:MARPSGet Rating) announced a quarterly dividend on Friday, May 20th, Zacks reports. Stockholders of record on Tuesday, May 31st will be given a dividend of 0.198 per share by the energy company on Tuesday, June 28th. This represents a $0.79 annualized dividend and a dividend yield of 11.05%. The ex-dividend date of this dividend is Friday, May 27th. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.11.

Marine Petroleum Trust has decreased its dividend payment by an average of 15.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years.

MARPS opened at $7.17 on Friday. The firm’s 50-day simple moving average is $9.06 and its 200-day simple moving average is $6.54. Marine Petroleum Trust has a twelve month low of $3.75 and a twelve month high of $32.00.

A number of large investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in Marine Petroleum Trust during the 3rd quarter valued at about $46,000. BNP Paribas Arbitrage SA acquired a new position in Marine Petroleum Trust during the 1st quarter valued at about $289,000. Finally, Morgan Stanley lifted its position in Marine Petroleum Trust by 289.7% during the 1st quarter. Morgan Stanley now owns 75,600 shares of the energy company’s stock valued at $389,000 after purchasing an additional 56,200 shares during the period.

Separately, started coverage on shares of Marine Petroleum Trust in a report on Monday, April 11th. They issued a “hold” rating on the stock.

Marine Petroleum Trust Company Profile (Get Rating)

Marine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the United States. As of June 30, 2021, the company had an overriding royalty interest in 55 oil and natural gas leases covering approximately 199,868 gross acres located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas.

See Also

Dividend History for Marine Petroleum Trust (NASDAQ:MARPS)

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