San Juan Basin Sets Monthly Distribution
San Juan Basin Royalty Trustannounced yesterday its July monthly distribution of $0.080643 per unit, based principally upon production during the month of April.
The board of directors said the dividend is payable on July 15 to the holders of record at the close of business on June 28. The trust reported that gas production for the properties from which the royalty was carved totaled approximately 2,938,341 million cubic feet, or 3,229,404 million BTUs.
Dividing revenues by production volume yielded an average gas price for April of $3.66 per Mcf ($3.33 per MMBtu) as compared to $3.32 per Mcf ($3.01 per MMBtu) for March. The distribution to the trust in any given month may include significant volume adjustments for sales in prior months that reflect pricing for those prior months.
The latest payment would equate to approximately $0.97-per-unit annual dividend, yielding 6.2% based on the closing price of San Juan Realty Trust's stock on June 18.
The article San Juan Basin Sets Monthly Distribution originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.