Energy trust MV Oil Trust (NYSE:MVO) announced today its third-quarter distribution of $0.98 per unit, distributing a total of approximately $11.3 million in profit on Oct. 25 to unit holders as of Oct. 15. The distribution is 42% higher than the company's previous payout, which totaled $7.9 million, or $0.69 per unit.
Due to the company's trust structure, its distributions can vary from quarter to quarter -- at times, significantly.
The regular dividend payment equates to a $3.92-per-share annual dividend, yielding 13.4% based on the closing price today of MV Oil Trust's stock.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.