North European Oil Royalty Trust Q3 distribution cut to $0.21/unit; expects no Q4 distribution

NORTH EUROPEAN OIL ROYALTY TRUST

Quarterly distribution of $0.21/unit for Q3 FY2023, down 54.35% from $0.46/unit in Q3 FY2022.
Decline due to negative carry-over, lower gas sales and prices; overpayment of royalties led to negative carry-over.
Trust expects no cash distribution for Q4 FY2023 due to elimination of royalty income from negative carry-over.
Cumulative 12-month distribution is $3.00/unit, up 143.9% from prior $1.23/unit.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTH EUROPEAN OIL ROYALTY TRUST reported the third quarter of fiscal 2023 results: net income This year's quarterly distribution of $0.21 per unit is 54.35%, or $0.25 per unit, lower than the distribution of $0.46.

Period: the third quarter of fiscal 2023
Net income: This year's quarterly distribution of $0.21 per unit is 54.35%, or $0.25 per unit, lower than the distribution of $0.46
Result: reported results

Exact text from the filing

On July 31, 2023, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's distribution for the third quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0000072633-23-000009

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