MV Oil Trust Hikes Distribution 42%
Oct 4th 2013 10:16PM
Updated Oct 4th 2013 10:18PM
Energy trust MV Oil Trust announced today its third-quarter distribution of $0.98 per unit, distributing a total of approximately $11.3 million in profit on Oct. 25 to unit holders as of Oct. 15. The distribution is 42% higher than the company's previous payout, which totaled $7.9 million, or $0.69 per unit.
Due to the company's trust structure, its distributions can vary from quarter to quarter -- at times, significantly.
The regular dividend payment equates to a $3.92-per-share annual dividend, yielding 13.4% based on the closing price today of MV Oil Trust's stock.
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