Sabine Royalty Trust (NYSE:SBR) announced today its October monthly distribution of $0.39401 per unit, based principally on production during July 2013 for oil and June 2013 for gas. Preliminary production volumes are approximately 41,164 barrels of oil and 517,682 Mcf of gas. Preliminary prices are approximately $99.19 per barrel of oil and $0.96 per Mcf of gas.
Due to the timing of the end of September, approximately $1.4 million of revenue received will be posted in October in addition to normal receipts during September. Since the close of business in September, and prior to this press release, approximately $277,000 in revenue has been received.
The latest payment would equate to a $4.73 per-unit annual dividend, yielding 9.2% based on the closing price today of Sabine Basin Royalty Trust's stock.
Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.