dividend
confidence high
sentiment positive
materiality 0.70
North European Oil Royalty Trust announces $1.00 per unit distribution for Q1 fiscal 2023, up 300% from prior year.
NORTH EUROPEAN OIL ROYALTY TRUST
- Quarterly distribution of $1.00 per unit payable on February 28, 2023 to record holders on February 17, 2023.
- Distribution is 300% higher ($0.75 per unit) than the $0.25 per unit for Q1 fiscal 2022.
- Higher gas prices and positive royalty adjustments of $3,992,911 from prior quarter drove the increase.
- Cumulative 12-month distribution is $2.58 per unit, up 279.41% from prior $0.68 per unit.
- Trust warns that a negative royalty adjustment in the third fiscal quarter will likely substantially reduce distributions.