TXO Partners L.P. announces Q1 dividend increase of $0.58 per share, with a 12.48% yield but 118.2% payout ratio.

TXO Partners L.P. announced a Q1 dividend increase of $0.58 per share, representing a $2.32 annualized dividend yielding 12.48%. However, with a 118.2% payout ratio, the company cannot fully cover its dividend with earnings, relying on its balance sheet. TXO Partners focuses on oil, gas, and natural gas liquid reserves in North America's Permian Basin and San Juan Basin.