Permian Basin Royalty Trust cuts monthly dividend by 13.3%
The montly dividend is lowered from $0.10938 to $0.09478 per share.
A month earlier the dividend was lowered also, following several dividend hikes earlier in 2014.
"This month's distribution decreased from the previous month due to increased capital expenditures relating to the drilling in July of the initial two vertical wells of the 2014 program for the Waddell Ranch. Slightly higher production for both oil and gas offset these increased expenditures.", according to the company statement.
The indicated dividend yield is 8.2%.
A month earlier the dividend was lowered also, following several dividend hikes earlier in 2014.
"This month's distribution decreased from the previous month due to increased capital expenditures relating to the drilling in July of the initial two vertical wells of the 2014 program for the Waddell Ranch. Slightly higher production for both oil and gas offset these increased expenditures.", according to the company statement.
The indicated dividend yield is 8.2%.
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