LL&E Royalty Trust (LRT) Reports No Dividend for the Month of Sept. 2009
LL&E Royalty Trust (NYSE: LRT) announced that there will be no Trust income distribution for the month of September 2009 for Unit holders of record on September 4, 2009. This release relates to production for the month of June 2009. Royalty income will be $187,610 while Trust expenses payable will be approximately $190,000. Trust expenses in excess of Royalty income will reduce the Trust's cash reserve. At August 26, 2009 the Trust had unpaid expenses of approximately $550,000.
There is no Royalty income for the month of June from the Jay Field or Offshore Louisiana properties. Excess production costs incurred through June 2009 to be recouped from future proceeds at the Jay Field and Offshore Louisiana properties totaled $9,999,075 and $2,733,176 respectively. Production Costs for the month of June 2009 by property are as follows: $651,270 for Jay Field property, ($12,100) for South Pass 89 property and $24,833 for Offshore Louisiana property.
[SM]
There is no Royalty income for the month of June from the Jay Field or Offshore Louisiana properties. Excess production costs incurred through June 2009 to be recouped from future proceeds at the Jay Field and Offshore Louisiana properties totaled $9,999,075 and $2,733,176 respectively. Production Costs for the month of June 2009 by property are as follows: $651,270 for Jay Field property, ($12,100) for South Pass 89 property and $24,833 for Offshore Louisiana property.
[SM]
You May Also Be Interested In
- UPDATE: CORRECTION: MOCON, Inc. (MOCO) Declares $0.105 Quarterly Dividend; 2.7% Yield
- Bunge Limited (BG) Raises Quarterly Dividend 8% to $0.27; 1.8% Yield
- Albany International Corp. (AIN) Boosts Qtr. Dividend by ~8% to $0.14/Share, 3% Yield
Create E-mail Alert Related Categories
DividendsRelated Entities
DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
