CALGARY, Alberta - PrairieSky Royalty Ltd. (TSX:PSK), a royalty company with an $883 million market capitalization, declared on Monday a quarterly dividend of CDN $0.26 per common share, representing an attractive 6.57% yield. The dividend is scheduled to be paid on April 15, 2025, to shareholders of record as of March 31, 2025. The company, known for its royalty-based business model, generates revenue as oil and natural gas are produced from its extensive property portfolio across Canada.
The declared dividend is also recognized as an eligible dividend for Canadian income tax purposes. According to InvestingPro data, PrairieSky has maintained dividend payments for 17 consecutive years, demonstrating the company’s long-standing commitment to returning value to its investors.
PrairieSky holds the largest independently-owned fee simple mineral title position in Canada. The company’s assets have a proven track record of producing free cash flow, underpinning the sustainability of its dividend payments. Currently trading near its 52-week low of $32.30, InvestingPro analysis reveals several additional key metrics and insights available to subscribers. As a royalty company, PrairieSky does not directly operate oil and gas properties; instead, it allows other companies to develop the resources on its land in exchange for royalty payments.
The distribution aligns with PrairieSky’s strategy to provide shareholders with regular dividends, leveraging its diversified portfolio of properties that continue to perform in the energy sector. InvestingPro analysis indicates the stock generally trades with low price volatility, making it potentially attractive for income-focused investors. The company’s shares are publicly traded on the Toronto Stock Exchange, where investors can participate in the company’s financial growth.
Investors and interested parties can find more information about PrairieSky and its dividend policy on the company’s website or by contacting their investor relations department. This announcement is based on a press release statement issued by PrairieSky Royalty Ltd.
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