BP Prudhoe Bay Raises Third-Quarter Distribution

The energy trust has all of its interests in one North Slope oil field

By Rich Duprey – Oct 4, 2013 at 9:58PM EST

Energy trust BP Prudhoe Bay Royalty Trust (BPT +0.00%) announced today its third-quarter dividend of $2.1679308 per unit, an increase of 1.2% over the payout made last quarter of 2.14291 per unit.

BP Prudhoe has all of its interests in one oil field located in North Slope, Alaska. The trust receives about 16% royalties on the lesser of either the first 90,000 barrels per day or the overall average daily production. Its actual average daily production for the quarter was 71,929 barrels.

The board of directors said the quarterly dividend is payable on October 20 to holders of record at the close of business on October 15. The regular dividend payment equates to approximately $8.67-per-share annual dividend, yielding 9.8% based on the closing price today of BP Prudhoe Bay Royalty Trust's stock.

BPT Dividend data by YCharts.

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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BP Prudhoe Bay Raises Third-Quarter Distribution

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