North European Oil Royalty Trust plunges on lower quarterly payout

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Grafissimo/E+ via Getty Images North European Oil Royalty Trust (NYSE:NRT) -16.2% in Friday's trading to its lowest in three and a half years after cutting its Q4 distribution to $0.02/unit from $0.21...

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The trust said the reduction was largely due to a carryover of negative adjustments from the prior quarter and the substantial negative adjustment from CY 2023 under both the Mobil and OEG royalty agreements. The negative carryover from CY 2023 also will affect scheduled royalty payments for Q1 2025, the trust said. 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