Sabine Royalty Trusts Sets September Payout
Sabine Royalty Trust announced today its September monthly distribution of $0.31073 per unit, based principally upon production during the month of June 2013 for oil, and the month of May 2013 for gas. Preliminary production volumes are approximately 32,642 barrels of oil, and 419,048 Mcf of gas. Preliminary prices are approximately $99.45 per barrel of oil, and $4.18 per Mcf of gas.
Due to the timing of the end of the month of August, approximately $966,000 of revenue received will be posted in the following month of September in addition to normal receipts during September. Since the close of business in August, and prior to this press release, approximately $2,032,000 in revenue has been received.
The latest payment would equate to a $3.73 per-unit annual dividend, yielding 7.2% based on the closing price today of Sabine Basin Royalty Trust's stock.
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