UPDATE: Hugoton Royalty Trust (HGT) Declares $0.018621 Monthly Dividend; 8.7% Yield

(Updated - August 21, 2015 11:18 AM EDT)

Hugoton Royalty Trust (NYSE: HGT) declared a monthly dividend of $0.018621 per share, or $0.223452 annualized.

The dividend will be payable on September 15, 2015, to stockholders of record on August 31, 2015, with an ex-dividend date of August 27, 2015.

The annual yield on the dividend is 8.7 percent.

The following table shows underlying gas sales and average prices attributable to the net overriding royalty payments made by XTO Energy Inc. (XTO Energy) to the Trust for both the current month and prior month distributions. Underlying gas sales volumes attributable to the current month distribution were primarily produced in June.

XTO Energy has advised the trustee that it has deducted budgeted development costs of $200,000, production expense of $1,644,000 and overhead of $1,061,000 in determining the royalty payment to the Trust for the current month.

Gas VolumesXTO Energy advised the trustee that repairs and maintenance beginning in first quarter 2015 at a third party gas processing system in the Hugoton area following a force majeure incident have resulted in decreased underlying gas volumes of approximately 5,000 Mcf per day. XTO Energy was advised by the third party that the repairs and maintenance were completed. However, XTO Energy has received notice that the force majeure notice is being extended to the processing portion of the third party plant due to an equipment malfunction. The third party was able to bypass the plant and take gas; however, the plant is not expected to be able to process gas for NGLs or Helium until at least the end of August, 2015. XTO Energy will continue to monitor the situation and assess its options.

Excess CostsXTO Energy has advised the trustee that lower gas prices caused costs to exceed revenues on properties underlying the Kansas net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyance.

XTO Energy has advised the trustee that decreased costs led to the partial recovery of excess costs on properties underlying the Wyoming net profits interests. However, after the partial recovery there were no remaining proceeds from properties underlying the Wyoming net profits interests to be included in the current month's distribution.

For a dividend history and other dividend-related data on Hugoton Royalty Trust (HGT) click here.

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