North European Oil Royalty Trust(US:NRT) Prnewswireยท2024-07-31 20:15Core Points - The North European Oil Royalty Trust announced a quarterly distribution of $0.21 per unit for Q3 of fiscal 2024, consistent with the distribution for Q3 of fiscal 2023 [1] - Scheduled royalty payments for Q4 of fiscal 2024 are estimated to be $1.2 million, subject to adjustments based on actual royalty income and expenses [3] Distribution Details - The distribution is payable on August 28, 2024, to holders of record on August 16, 2024 [1] - Distributions are based on actual royalty income received, minus incurred and anticipated expenses [1] Royalty Agreements - The Trust receives royalties under the Mobil and OEG Royalty Agreements, with adjustments made based on actual royalties from the previous quarter [2] - As of the end of Q3 of fiscal 2024, there were negative adjustments of $387,930 under the Mobil Agreement and $219,645 under the OEG Agreement, which will affect future payments [2] Future Considerations - Factors influencing future distributions include potential adjustments for calendar 2023 and end-of-quarter adjustments at the end of October 2024 [3] - The actual royalty income will be determined by the exchange rate at the time of fund transfer [3]