real-time news and commentary for investors
Friday, Sep 20
Permian Basin raises monthly payout above $0.10.
- Permian Basin Royalty Trust (PBT -0.5%) ups its monthly distribution to $0.106268 per unit from $0.089 previously. It's payable on October 15 to holders of record on September 30. The annualized yield is 9.3%.
- Increased production for both oil and gas, along with higher oil prices are beyond the higher payout. Gas prices, however, fell a bit.
- About seven 2013 workover wells were completed during July. Capital expenditures summed to $2.14M.
- Press release.