North European Oil Royalty Trust Declares Q1 Fiscal 2025 Distribution
North European Oil Royalty Trust Announces Quarterly Distribution
The Trustees of North European Oil Royalty Trust (NYSE-NRT) have revealed a quarterly distribution of $0.04 per unit for the first quarter of fiscal 2025. This payment is to be distributed on February 26, 2025, to unitholders registered by February 14, 2025.
Understanding the Distribution Process
The Trust's monthly scheduled royalty payments are dictated by the royalties payable to the Trust from the previous calendar quarter. The payment scheduled for the quarter ending January 31, 2025, reflects a significant adjustment due to negative changes arising from the 2023 calendar period. This adjustment has notably impacted the amount to be distributed.
The Impact of Past Adjustments
Significant negative carry-over adjustments from calendar 2023 have resulted in the complete elimination of royalty payments for the first quarter of fiscal 2025 under the OEG royalty agreement. There remains a minor residual negative balance that will minimally influence OEG's scheduled payment in February 2025.
The Mobil Royalty Agreement
Fortunately, the negative carry-over from 2023 was neutralized through a reduction of royalty payments owed under the Mobil agreement in December 2024. These adjustments are essential for the Trust's financial stability and are closely monitored.
Future Insights and Reporting
Further details regarding these financial changes will be disclosed in the 10-Q filing, expected to be available around February 28, 2025. This document will provide greater clarity on how the Trust is managing its distribution amidst fluctuations in royalty amounts.
Contact Information
For inquiries, please reach out to John R. Van Kirk, Managing Director at the Trust. He can be contacted via telephone at (732) 741-4008. Public relations information can be found on the Trust's official website, which hosts press releases and other critical updates.
Frequently Asked Questions
What is the latest distribution amount for North European Oil Royalty Trust?
The latest distribution amount announced is $0.04 per unit for the first quarter of fiscal 2025.
When will the distribution be paid?
The distribution is scheduled to be paid on February 26, 2025, to unitholders of record on February 14, 2025.
What caused the reduction in the distribution amount?
The reduction was largely due to negative adjustments from calendar 2023, affecting the royalty payments under both the Mobil and OEG royalty agreements.
Where can I find more detailed financial information about the Trust?
Detailed financial information, including the adjustments and their implications, will be made available in the 10-Q report expected to be released on or about February 28, 2025.
Who should I contact for more information?
For further inquiries, you can contact John R. Van Kirk, Managing Director, at (732) 741-4008.
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