The board of directors said the dividend is payable on July 15 to the holders of record at the close of business on June 28. The trust reported that gas production for the properties from which the royalty was carved totaled approximately 2,938,341 million cubic feet, or 3,229,404 million BTUs.
Dividing revenues by production volume yielded an average gas price for April of $3.66 per Mcf ($3.33 per MMBtu) as compared to $3.32 per Mcf ($3.01 per MMBtu) for March. The distribution to the trust in any given month may include significant volume adjustments for sales in prior months that reflect pricing for those prior months.
The latest payment would equate to approximately $0.97-per-unit annual dividend, yielding 6.2% based on the closing price of San Juan Realty Trust's stock on June 18.
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