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North European Oil Royalty Trust declares distribution of USD0.17 per unit for fiscal Q1 2018.

M2 EQUITYBITES-February 1, 2018-North European Oil Royalty Trust declares distribution of USD0.17 per unit for fiscal Q1 2018

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North European Oil Royalty Trust's (NYSE:NRT) board of trustees authorised a distribution of USD0.17 per unit for the first quarter of fiscal 2018, the company reported on Wednesday.

All unit holders of record on 16 February 2018 will be paid on 28 February 2018. Also, the company mentioned that natural gas sold during the fourth calendar quarter of 2017 is the primary source of royalty income on which the February 2018 distribution is based.

Further, the managing director John R Van Kirk stated that this year's quarterly distribution is 13.33% higher than the distribution for the first quarter of fiscal 2017.

A grantor trust, North European Oil Royalty Trust holds overriding royalty rights covering gas and oil production in concessions or leases in Germany. It holds rights under contracts with German exploration and development subsidiaries of ExxonMobil Corp and the Royal Dutch/Shell Group of companies. Founded in 1975, it is based in Red Bank, New Jersey, USA.

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Publication:M2 EquityBites (EQB)
Date:Feb 1, 2018
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