Dorchester Minerals, L.P. Announces Its Second Quarter Distribution
July 20 2017 - 11:25AM
Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the
Partnership’s second quarter 2017 cash distribution. The
distribution of $0.322965 per common unit represents activity for
the three-month period ended June 30, 2017 and is payable on August
10, 2017 to common unitholders of record as of July 31, 2017.
Cash receipts attributable to the Partnership’s
Royalty Properties during the second quarter totaled approximately
$10.0 million. These receipts generally reflect oil sales during
March 2017 through May 2017 and gas sales during February 2017
through April 2017. Cash receipts attributable to the Partnership’s
Net Profits Interests during the second quarter totaled
approximately $0.8 million. These receipts reflect oil and gas
sales from the properties underlying the Net Profits Interests
generally during February 2017 through April 2017.
Cash receipts attributable to lease bonus and
other income during the second quarter totaled approximately $1.8
million.
Today’s announced distribution includes second
quarter cash receipts attributable to the previously announced
acquisition of producing and nonproducing royalty and mineral
interests located in the Midland Basin and reflects the 1,604,343
units issued to the contributors at closing, resulting in
32,279,774 total common units outstanding at June 30, 2017.
Dorchester Minerals, L.P. is a Dallas-based
owner of producing and non-producing oil and natural gas mineral,
royalty, overriding royalty, net profits, and leasehold interests
located in 25 states. Its common units trade on the Nasdaq Global
Select Market under the symbol DMLP.
This release serves as qualified notice to
nominees as provided for under Treasury Regulation Section
1.1446-4(b)(4) and (d). Please note that 100 percent of the
Partnership’s distributions to foreign investors are attributable
to income that is effectively connected with a United States trade
or business. Accordingly, all of the Partnership’s
distributions to foreign investors are subject to federal income
tax withholding at the highest effective tax rate for individuals
or corporations, as applicable. Nominees, and not the
Partnership, are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
FORWARD-LOOKING STATEMENTS
Portions of this document may constitute
"forward-looking statements" as defined by federal law. Such
statements are subject to certain risks, uncertainties and
assumptions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated,
estimated or projected. Examples of such uncertainties and risk
factors include, but are not limited to, changes in the price or
demand for oil and natural gas, changes in the operations on or
development of the Partnership’s properties, changes in economic
and industry conditions and changes in regulatory requirements
(including changes in environmental requirements) and the
Partnership’s financial position, business strategy and other plans
and objectives for future operations. These and other factors are
set forth in the Partnership's filings with the Securities and
Exchange Commission.
Contact:
Casey McManemin
3838 Oak Lawn Ave., Suite 300
Dallas, Texas 75219-4541
(214) 559-0300
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