BP Prudhoe Bay Raises Third-Quarter Distribution
Energy trust BP Prudhoe Bay Royalty Trustannounced today its third-quarter dividend of $2.1679308 per unit, an increase of 1.2% over the payout made last quarter of 2.14291 per unit.
BP Prudhoe has all of its interests in one oil field located in North Slope, Alaska. The trust receives about 16% royalties on the lesser of either the first 90,000 barrels per day or the overall average daily production. Its actual average daily production for the quarter was 71,929 barrels.
The board of directors said the quarterly dividend is payable on October 20 to holders of record at the close of business on October 15. The regular dividend payment equates to approximately $8.67-per-share annual dividend, yielding 9.8% based on the closing price today of BP Prudhoe Bay Royalty Trust's stock.
The article BP Prudhoe Bay Raises Third-Quarter Distribution originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. 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.