Texas Pacific Land Raises Quarterly Dividend 12.5% to $0.60 Per Share
Texas Pacific Land Corporation (NYSE: TPL), one of the largest landowners in Texas with approximately 882,000 acres concentrated in the Permian Basin, declared a quarterly cash dividend of $0.60 per share on February 10, 2026. The payment represents a 12.5% increase from the prior quarter's $0.53 dividend.
Texas Pacific Land Corporation (NYSE: TPL), one of the largest landowners in Texas with approximately 882,000 acres concentrated in the Permian Basin, declared a quarterly cash dividend of $0.60 per share on February 10, 2026. The payment represents a 12.5% increase from the prior quarter's $0.53 dividend. Read more dividend announcements.
The dividend will be paid on March 16, 2026 to stockholders of record as of March 2, 2026. The company, which generates revenue from oil and gas royalties, land leases, and water services rather than direct energy production, paid total cash dividends of $147.8 million through December 31, 2025.
| Dividend Details | Information |
|---|---|
| Amount | $0.60 per share |
| Record Date | March 2, 2026 |
| Ex-Dividend Date | Not specified |
| Payment Date | March 16, 2026 |
| Previous Dividend | $0.53 per share |
| Increase | 12.5% |
Record Financial Performance in 2025
Texas Pacific Land reported consolidated net income of $481.4 million, or $6.97 per diluted share, for the year ended December 31, 2025, compared to $454.0 million for 2024. Total revenues reached $798.2 million for 2025, up from $705.8 million in the prior year.
The revenue increase was driven by a $38.3 million gain in oil and gas royalty revenue, a $20.1 million increase in produced water royalties, a $19.0 million rise in water sales, and an $18.5 million boost in easements and other surface-related income.
Oil and gas royalty production averaged 34.6 thousand barrels of oil equivalent per day for 2025, up from 26.8 thousand Boe per day in 2024. However, the average realized price declined to $34.18 per Boe from $39.87 per Boe in the prior year.
Fourth Quarter Results
For the fourth quarter of 2025, Texas Pacific Land reported net income of $123.3 million, or $1.79 per diluted share. The company achieved record oil and gas royalty production of 37.5 thousand Boe per day during the quarter.
Water sales revenue totaled $60.7 million with volumes of 1.0 million barrels per day, while produced water royalties revenue reached $33.5 million with volumes of 4.8 million barrels per day. The Water Services and Operations segment generated $98.2 million in revenues for the quarter.
The Land and Resource Management segment produced $113.4 million in quarterly revenues. The company reported adjusted EBITDA of $178.1 million and free cash flow of $118.9 million for the quarter.
Strategic Developments
The company invested $50.0 million in Bolt Data & Energy, Inc., a data infrastructure company, pursuant to a strategic agreement to develop large-scale data center campuses across TPL land. Texas Pacific Land also entered into a $500 million revolving credit facility and effected a three-for-one stock split on December 22, 2025.
As of December 31, 2025, TPL's royalty acreage had an estimated 5.6 net well permits, 9.8 net drilled but uncompleted wells, and 4.0 net completed but not producing wells, totaling 19.5 net wells. The company had 116.1 net producing wells, with wells added during the quarter averaging lateral lengths of approximately 10,910 feet.
Total operating expenses for 2025 were $206.0 million compared to $166.7 million in 2024, primarily due to a $33.0 million increase in depletion expense related to oil and gas royalty interests acquired during 2024 and 2025. The company also repurchased $8.4 million of common stock through December 31, 2025.