The company said its Board declared a special cash dividend of $10.00 per share on June 13, 2024, payable on July 15, 2024 to stockholders of record at the close of business on July 1, 2024.

8-KOther EventsFiled Jun 13, 2024Period of report Jun 13, 2024Summary published (UTC) Oct 30, 2026

Key points

AI summary

The company said its Board declared a special cash dividend of $10.00 per share on June 13, 2024, payable on July 15, 2024 to stockholders of record at the close of business on July 1, 2024.
Texas Pacific Land said the special dividend is the largest in its history, an increase of 50% over the most recent prior special dividend adjusted for stock splits.
The company set a cash balance target of approximately $700 million and said it will seek to deploy the majority of its free cash flow above that level toward share repurchases and dividends.
Texas Pacific Land said it will evaluate its cash balance target and capital allocation priorities on a regular basis as business fundamentals and macroeconomic conditions change. The company said it owns approximately 868,000 acres of land in West Texas.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Special dividend of $10.00 per share declared

The company said its Board declared a special cash dividend of $10.00 per share on June 13, 2024, payable on July 15, 2024 to stockholders of record at the close of business on July 1, 2024.

Source · Based on the filing body and exhibits

Size of special dividend compared

Texas Pacific Land said the special dividend is the largest in its history, an increase of 50% over the most recent prior special dividend adjusted for stock splits.

Source · Based on the filing body and exhibits

Cash balance target of about $700 million

The company set a cash balance target of approximately $700 million and said it will seek to deploy the majority of its free cash flow above that level toward share repurchases and dividends.

Source · Based on the filing body and exhibits

Capital allocation review and land holdings

Texas Pacific Land said it will evaluate its cash balance target and capital allocation priorities on a regular basis as business fundamentals and macroeconomic conditions change. The company said it owns approximately 868,000 acres of land in West Texas.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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