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North European Oil Royalty Trust Announces The Net Income For The First Quarter Of Fiscal 2020

North European Oil Royality Trust (NRT) 
US:NYSE Investor Relations: neort.com/investors.html
Company Research Source: PR Newswire
KEENE, N.H., Feb. 14, 2020 /PRNewswire/ -- North European Oil Royalty Trust (NYSE: NRT) reported the net income for the first quarter of fiscal 2020 which appears in the table below compared to net income for the first quarter of fiscal 2019.  Total royalty income includes adjustments made by the operating companies to reflect their corrected royalty calculations for prior periods as well as the inclusion or absence of Mobil sulfur royalties.  The adjustments for the first quarter of fiscal 2020 decreased total royalty income by $349,361.  By comparison, in the first quarter of fiscal 2019, the adjustments increased total royalty income by $54,796.   1st Fiscal Quarter  Ended 1/31/2020  1st Fiscal Quarter  Ended 1/31/2019PercentageChangeTotal Royalty Income$1,025,965$2,303,000-  55.45%Net Income$747,737$2,037,785-  63.31%Distributions per Unit$0.08$0.22-  63.64%The Trust receives nearly all of its royalties under two royalty agreements.  The Mobil Agreement, the higher royalty rate ag Show less Read more
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