Statutory trust Enduro Royalty Trust announced today its June monthly distribution of $0.096825 per unit; it has paid a monthly dividend since November 2011. The distribution announced in April was $0.124518.
The board of directors said the monthly distribution is payable on June 14 to the holders of record at the close of business on May 31. The trust was formed by Enduro Resource Partners for the purpose of receiving 80% of the net profits from the sale of oil and natural gas production from certain properties in Texas, Louisiana, and New Mexico.
Enduro noted oil volumes for the current month calculation period were consistent with the prior month but volumes were lower as a result of fewer days of production during February 2013 as compared to January.
The regular dividend payment would equate to a $1.1619-per-share annual dividend, which would yield 7% based on the closing price of Enduro Royalty Trust's stock on May 17.
The article Enduro Royalty Announces Monthly Distribution originally appeared on Fool.com.
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