Add as a preferred source on GooglePermRock Royalty Trust Cuts Monthly Distribution to $0.016204 Per Unit
The $197,140.34 payout is scheduled for Nov. 16. Oct. 30 is both the record date and the ex-dividend date.
PermRock Royalty Trust lowered its monthly cash distribution to $0.016204 per unit from $0.019624 in September as oil sales and cash receipts declined on its West Texas properties.
The trust declared the distribution Oct. 20. The $197,140.34 payment is based primarily on August production. Oil sales on the underlying properties totaled 12,603 barrels, down from 15,632 barrels in the previous calculation, while oil cash receipts fell by $0.24 million to $1.01 million.
PermRock receives 80% of the net profits from oil and natural gas production on certain properties in West Texas’ Permian Basin.
Unitholders of record Oct. 30 are eligible for the distribution. The units are scheduled to trade ex-dividend that day, and the trust plans to pay the distribution Nov. 16.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.