MV Oil Trust (NYSE:MVO) Increases Dividend to $0.28 Per Share

MV Oil Trust (NYSE:MVO) declared a quarterly dividend on Monday, April 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.275 per share by the oil and gas producer on Friday, April 25th. This represents a $1.10 dividend on an annualized basis and a yield of 19.68%. The ex-dividend date is Tuesday, April 15th. This is a 14.6% increase from MV Oil Trust’s previous quarterly dividend of $0.24.

MV Oil Trust has increased its dividend by an average of 0.6% per year over the last three years.

MV Oil Trust Price Performance

NYSE:MVO opened at $5.59 on Tuesday. MV Oil Trust has a 1-year low of $4.63 and a 1-year high of $11.39. The stock has a market cap of $64.29 million, a P/E ratio of 3.52 and a beta of 0.22. The firm has a 50-day moving average of $5.42 and a two-hundred day moving average of $7.57.

MV Oil Trust (NYSE:MVO) last released its quarterly earnings results on Thursday, March 20th. The oil and gas producer reported $1.02 earnings per share for the quarter. The company had revenue of $12.68 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered MV Oil Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

About MV Oil Trust

MV Oil Trust acquires and holds term net profits interests in the oil and natural gas properties of MV Partners, LLC. Its properties wells located in the Mid-Continent region in the states of Kansas and Colorado. MV Oil Trust was incorporated in 2006 and is based in Houston, Texas.