North European Oil Royalty Trust Announces The Distribution For The Second Quarter Of Fiscal 2021
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KEENE, N.H., April 30, 2021 /PRNewswire/ -- The Trustees of North European Oil Royalty Trust (NYSE-NRT) announced today a quarterly distribution of $0.14 per unit for the second quarter of fiscal 2021, payable on May 26, 2021 to owners of record on May 14, 2021. Natural gas sold during the first calendar quarter of 2021 is the primary source of royalty income on which the May 2021 distribution is based.
John R. Van Kirk, Managing Director, reported that this year's quarterly distribution of $0.14 per unit is 27.27%, or $0.03 per unit, higher than the distribution of $0.11 per unit for the second quarter of fiscal 2020. For the quarter ending April 30, 2021, the impact on royalty income of lower gas sales and gas prices was largely offset by a higher average exchange rate. There were no adjustments during the second quarter of fiscal 2021 as compared to a negative adjustment of ($137,944) during the second quarter of fiscal 2020. In addition, stable anticipated royalty payments during the upcoming quarter enabled the higher distribution.