North European Oil Royalty Trust Announces the Distribution for the First Quarter of Fiscal 2010
January 29 2010 - 10:40AM
PR Newswire (US)
RED BANK, N.J., Jan. 29 /PRNewswire-FirstCall/ -- The Trustees of
North European Oil Royalty Trust (NYSE:NRT) today announced a
quarterly distribution of $0.50 per unit for the first quarter of
fiscal 2010, payable on February 24, 2010 to holders of record on
February 12, 2010. Natural gas sold during the fourth calendar
quarter of 2009 is the primary source of royalty income on which
the February distribution is based. John R. Van Kirk, Managing
Director, reported that this year's quarterly distribution of $0.50
per unit is 52.83% or $0.56 per unit lower than the distribution of
$1.06 per unit for the first quarter of fiscal 2009. Complete
information on sales or production has not yet been received.
However, preliminary information indicates that gas prices are down
from the prior year's equivalent quarter but up from the
immediately preceding quarter. Further details will be available in
the press release announcing the Trust's net income scheduled for
release on or about February 12, 2010. The cumulative 12-month
distribution, which includes this February distribution and the
three prior quarterly distributions, is $2.45 per unit. This
12-month cumulative distribution is 38.13% or $1.51 per unit lower
than the prior 12-month distribution of $3.96 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: . The text of
the Trust's press releases along with other pertinent information
is available at the Trust's website: http://www.neort.com/.
DATASOURCE: North European Oil Royalty Trust CONTACT: John R. Van
Kirk, Managing Director, +1-732-741-4008, Web Site:
http://www.neort.com/
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