Core Viewpoint - North European Oil Royalty Trust announced a quarterly distribution of $0.04 per unit for Q1 fiscal 2025, reflecting a significant reduction due to negative adjustments from the previous calendar year [1][2]. Distribution Details - The distribution of $0.04 per unit is payable on February 26, 2025, to owners of record on February 14, 2025 [1]. - The reduction in distribution is primarily due to substantial negative adjustments from calendar 2023 under both Mobil and OEG royalty agreements [2]. - The negative carry-over adjustment from calendar 2023 eliminated all first quarter fiscal 2025 royalty payments under the OEG royalty, with a small residual negative balance affecting February 2025 payments [2]. Financial Adjustments - The negative carry-over adjustment from calendar 2023 was fully offset by a reduction in the scheduled royalty payment under the Mobil royalty in December 2024 [2]. - Further details regarding these financial adjustments will be available in the 10-Q report expected to be released on or about February 28, 2025 [2].
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE DISTRIBUTION FOR THE FIRST QUARTER OF FISCAL 2025