Dividends
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Permian Basin Royalty Trust (PBT) Approves Reduced Monthly Dividend
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Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution to the holders of its units of beneficial interest of $.152055 per unit, payable on December 12, 2008, to unit holders of record on November 28, 2008.
This month's distribution decreased due primarily to a decrease in the price of both oil and gas and a decline in production of both oil and gas compared to the previous month that was affected by curtailment of the entire oil and gas industry by Hurricanes Gustav and Ike. Although direct effects on the production of the Trust were nominal, the domestic market of transportation and processing were hindered for a few days of the month and have since returned to normal levels. This would primarily reflect production for the month of September.
The Permian Basin Royalty Trust (the Trust) is an express trust. [SM]
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