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
