Black Stone Minerals, L.P.
BSMEnergy · Stock · quarterly payer
Forward Yield
8.39%
Annual Dividend
$1.20
Payout Ratio
100%
5-Yr Growth
21.7%
Ex-Date
May 8, 2026
Frequency
Quarterly
Summary
As of July 2026, Black Stone Minerals, L.P. (BSM) yields 8.39% ($1.20 per share annually), with a blended fair-value estimate of $22.26 — +56% upside, so it screens as undervalued. Dividend safety grade: C (50/100).
Is BSM a good dividend stock?
MixedBlack Stone Minerals, L.P. (BSM) pays a quarterly dividend yielding 8.39% ($1.20/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Strong 21.7% 5-yr dividend growth
- 43% total price return over 5 years
Risks
- Cut its dividend in 2025
- Elevated payout ratio (100%)
- Very high yield can signal elevated risk
Key Data
- Dividend Yield
- 8.39%
- Payout Ratio
- 100%
- Annual Dividend
- $1.20
- 5-Yr Avg Growth
- 21.7%
- Ex-Dividend Date
- May 8, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.02
- Market Cap
- $3.0B
- P/E Ratio
- 11.3
- 5-Yr Total Return
- 43%
- 52-Week Range
- $11.78 – $15.49
- Dividend Safety
- C · 50/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
BSM Price — Last 12 Months
Daily close
Price Return
1 Year
+18%
3 Years
-18%
5 Years
+43%
52-Week Range
$11.78 – $15.49
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BSM worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Black Stone Minerals, L.P. is $22.26 per share, versus a market price of $14.31. That implies 56% of upside — a margin of safety of about 36%.
Fair Value
$22.26
Current Price
$14.31
Upside
+56%
Margin of Safety
36%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -5.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $1.27 EPS, $1.20 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
BSM Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 8, 2026 | — | $0.3000 | regular |
| Feb 18, 2026 | — | $0.3000 | regular |
| Nov 6, 2025 | — | $0.3000 | regular |
| Aug 7, 2025 | — | $0.3000 | regular |
| May 8, 2025 | — | $0.3750 | regular |
| Feb 18, 2025 | — | $0.3750 | regular |
| Nov 8, 2024 | — | $0.3750 | regular |
| Aug 9, 2024 | — | $0.3750 | regular |
| May 9, 2024 | — | $0.3750 | regular |
| Feb 15, 2024 | — | $0.4750 | regular |
| Nov 8, 2023 | — | $0.4750 | regular |
| Aug 10, 2023 | — | $0.4750 | regular |
| May 11, 2023 | — | $0.4750 | regular |
| Feb 15, 2023 | — | $0.4750 | regular |
Income Calculator
At $1.20 / yr per share
