Pacific Coast Oil Trust Boosts Monthly Payout

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Pacific Coast Oil Trust has increased its monthly distribution payment from $0.15462 per unit to $0.16990, payable Sept. 16 to shareholders of record as of Sept. 6.

The 9.9% increase marks the largest payout the oil company has paid its investors during at least the past 12 months. In a statement, the company said the new payout is due to higher production and higher average oil prices. Production was approximately 4% higher than the previous month, primarily reflecting one additional day of production. The upcoming payout is based on July production.

Annualized, Pacific Coast's latest distribution adds up to $2.0388 per share. As of the market's close on Aug. 26, the company's stock was trading at $17.86 , which means its current dividend yield is approximately 11.4%.


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The article Pacific Coast Oil Trust Boosts Monthly Payout originally appeared on Fool.com.

Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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