Sabine Royalty Trust (SBR 0.24%) has declared a cash distribution of $0.44969 per unit for August, the highest per-unit payout since April 2010's $0.47982 distribution, Sabine announced today.
The cash distribution will be paid on Aug. 29 to unit holders of record Aug. 15. The payout reflects oil production levels for May and gas production for April, which both rose by approximately 50% compared to the prior months' results. Higher average prices for both oil and gas also contributed to August's distribution.
According to Sabine, due to the timing of July's month-end, approximately $593,000 of revenue will be posted in August "in addition to normal receipts during August."
