Seeking Alpha

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.
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