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Permian Basin Royalty Trust (PBT) Approves Lower Monthly Dividend
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- Permian Basin Royalty Trust (PBT) Approves Lower Monthly Dividend
Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution to the holders of its units of beneficial interest of $.043564 per unit, payable on March 13, 2009, to unit holders of record on February 27, 2009.
Previous 5 months in dividends - 28-Jan-09 $0.083 Dividend, 29-Dec-08 $0.11 Dividend, 25-Nov-08 $0.152 Dividend, 29-Oct-08 $0.231 Dividend, and 26-Sep-08 $ 0.247 Dividend.
This month's distribution decreased due primarily to lower prices for both oil and gas and decreased production due to market demand. This would primarily reflect production for the month of December.
The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.
The Permian Basin Royalty Trust (the Trust) is an express trust. The net overriding royalties conveyed to the Trust (the Royalties) include a 75% net overriding royalty carved out of Southland Royalty’s fee mineral interests in the Waddell Ranch in Crane County, Texas (the Waddell Ranch properties), and a 95% net overriding royalty carved out of Southland Royalty’s major producing royalty interests in Texas (the Texas Royalty properties). [SM]
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Comments
PBT drop
Why the big BIG drop today ?
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reason it went down.
Jimmy Won on Feb 20, 2009 03:50 PMThey cut the dividend. Dollar went strong; Therefore, oil could be bought with fewer dollars. Oil price went down for Americans.