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SandRidge Permian Trust Announces Quarterly Distribution and Distribution of Net Asset Sale Proceeds in August 2021 apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Cornerstone Funds Announce Continuing Monthly Distributions streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Share: SANDRIDGE PERMIAN TRUST (OTC:PERS) today announced a quarterly distribution for the three-month period ended March 31, 2021 of approximately $1.5 million, or $0.028 per unit. This distribution relates in part to oil and gas production attributable to the Trust s royalty interests from December 1, 2020 to February 28, 2021, as well as to (1) a reimbursement by Montare Resources I, LLC ( Montare ) of a portion of property taxes attributable to assets sold by Avalon Energy, LLC ( Avalon ) to Montare in October 2020 and (2) the distribution Avalon received in March 2021 and returned to the Trust pursuant to the terms of the Repayment Agreement described below. The Trust makes distributions on a quarterly basis on or about the 60th day following the completion of each quarter. The distribution is expected to occur on or before May 28, 2021 to holders of record as of the close of business on May 14, 2021. ....
$0.1537 Each Fund s distribution policy provides for the resetting of the monthly distribution amount per share ( Distribution Amount ) annually, based on each Fund s net asset value on the last business day of October and the annualized distribution percentage approved by the respective Board of Directors (individually the Board , or collectively, the Boards ). Each Board believes each Fund s distribution policy maintains a stable, high rate of distribution. These distributions are not tied to each Fund s investment income or capital gains and do not represent yield or investment return on each Fund s portfolio. The Distribution Amount from one calendar year to the next will increase or decrease based on the change in each Fund s net asset value. The terms of each distribution policy are reviewed and approved at least annually by each Fund s Board and may be modified at their discretion for the benefit of each Fund and its stockholders. ....
About the Level Distribution Policy In March 2019, the Fund s Board of Trustees (the Board ) approved a level distribution policy (the Level Distribution Policy ) under which the Fund makes monthly distributions to stockholders at a constant and fixed (but not guaranteed) rate that will reset annually to a rate calculated based on the average of the Fund s NAV per share (the Distribution Amount ), as reported for the final five trading days of the month preceding the announcement of distributions. The Distribution Amount applicable to Q1 2021 was reset based upon the results of the distribution rate calculation. The Distribution Amount applicable for future periods may be reset based upon the results of the distribution rate calculation. ....