RED BANK, N.J., April 30, 2019 /PRNewswire/ -- The Trustees
of North European Oil Royalty Trust (NYSE: NRT) announced today a
quarterly distribution of $0.22 per
unit for the second quarter of fiscal 2019, payable on May 29, 2019 to holders of record on May 17, 2019. Natural gas sold during the
first calendar quarter of 2019 is the primary source of royalty
income on which the May 2019
distribution is based.
John R. Van Kirk, Managing
Director, reported that this year's quarterly distribution of
$0.22 per unit is 15.79%, or
$0.03 per unit, higher than the
distribution of $0.19 per unit for
the second quarter of fiscal 2018. Specific details will be
available in the earnings press release scheduled for publication
on or about May 15, 2019.
The table below shows an estimate of the amount of royalties
anticipated to be received in the third quarter of fiscal 2019
based on the actual amount of royalties that were payable to the
Trust for the first calendar quarter of 2019. The amount of
royalties anticipated to be received in May
2019 reflects the carryover of a negative adjustment of
Euros 8,244. Amounts in dollars
are based on the current exchange rate of 1.122167. Actual
royalty income in dollars is valued based on exchange rates on the
day funds are transferred. Distributions are based on royalty
income received less expenses incurred.
Estimated
Combined
Royalties Anticipated
in
|
Combined
Royalties
In Euros
|
Combined
Royalties
In Dollars
|
Dollar
Royalties
In Cents per
Unit
|
May
|
Euros
634,569
|
$712,092
|
$0.0775
|
June
|
Euros
642,813
|
$721,344
|
$0.0785
|
July
|
Euros
642,813
|
$721,344
|
$0.0785
|
The cumulative 12-month distribution, which includes the
May 2019 distribution and the three
prior quarterly distributions, is $0.78 per unit. This 12-month cumulative
distribution is the same as the prior 12-month distribution of
$0.78 per unit. The Trust makes
quarterly distributions to unit owners during the months of
February, May, August and November.
Contact – John R. Van Kirk,
Managing Director, telephone: (732) 741-4008, e-mail:
jvankirk@neort.com. The Trust's press releases and other
pertinent information are available on the Trust's website:
www.neort.com.
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SOURCE North European Oil Royalty Trust