PrairieSky Royalty Ltd (PSK) Raises Dividend to $0.06 Per Share

PrairieSky Royalty Ltd (TSE:PSK) announced a monthly dividend on Monday, January 15th, Zacks reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.063 per share on Thursday, February 15th. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date is Tuesday, January 30th. This is an increase from PrairieSky Royalty’s previous monthly dividend of $0.06.

Shares of PrairieSky Royalty (TSE:PSK) traded down C$0.10 during mid-day trading on Thursday, reaching C$31.27. 589,520 shares of the company traded hands, compared to its average volume of 401,447. PrairieSky Royalty has a one year low of C$27.10 and a one year high of C$35.90. The stock has a market cap of $7,410.00, a P/E ratio of 76.27 and a beta of 1.16.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, October 30th. The company reported C$0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.04 by C$0.04. PrairieSky Royalty had a net margin of 27.06% and a return on equity of 2.83%.

PSK has been the topic of several research analyst reports. TD Securities cut shares of PrairieSky Royalty from a “buy” rating to a “hold” rating and lowered their target price for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. BMO Capital Markets upped their target price on shares of PrairieSky Royalty from C$30.00 to C$35.00 in a research note on Tuesday, October 10th. National Bank Financial lowered their target price on shares of PrairieSky Royalty from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Friday, October 13th. CIBC upped their target price on shares of PrairieSky Royalty from C$35.00 to C$38.00 in a research note on Tuesday, October 17th. Finally, Barclays upped their target price on shares of PrairieSky Royalty from C$28.00 to C$32.00 in a research note on Monday, October 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$35.39.

In other news, Director James Estey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of C$32.82, for a total value of C$3,282,000.00. Also, Director Sheldon Brooks Steeves sold 7,714 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of C$35.62, for a total transaction of C$274,772.68.

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About PrairieSky Royalty

PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.

Dividend History for PrairieSky Royalty (TSE:PSK)

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