Enduro Sets Monthly Distribution
Statutory trust Enduro Royalty Trustannounced on Friday its October monthly distribution of $0.127255 per unit; it has paid a monthly dividend since November 2011.
The board of directors said the monthly distribution is payable on Oct. 15 to the holders of record at the close of business on Sept. 30. 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 that there was significant decrease in natural gas production because of approximately 258,000 Mcf that was paid by an operator during the previous calculation period for 23 months of production from a well in north Louisiana, resulting in $780,000 in additional natural gas revenues during the prior month's calculation period. Excluding the adjustment, realized natural gas prices for the prior month were $4.03 per Mcf.
The regular dividend payment would equate to approximately a $1.53-per-unit annual dividend, which would yield 10.1% based on the closing price of Enduro Royalty Trust's stock on Sept. 20.
The article Enduro Sets Monthly Distribution originally appeared on Fool.com.Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.