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Dorchester Minerals, L.P. announced its first quarter 2024 cash distribution of $0.781837 per common unit, totaling approximately $24.5 million from Royalty Properties, $6.8 million from Net Profits Interest, $0.6 million from lease bonus and other income, and $4.0 million from acquisitions. The company owns oil and gas interests in 28 states, trading on Nasdaq under the symbol DMLP.
Dorchester Minerals, L.P. ha annunciato la sua distribuzione di contanti per il primo trimestre del 2024, pari a $0,781837 per unità comune, per un totale di circa $24,5 milioni provenienti da Proprietà di Royalty, $6,8 milioni da Interessi sui Profitti Netti, $0,6 milioni da bonus di locazione e altri introiti, e $4,0 milioni da acquisizioni. La società possiede interessi petroliferi e del gas in 28 stati, quotata al Nasdaq con il simbolo DMLP.
Dorchester Minerals, L.P. anunció su distribución de efectivo para el primer trimestre de 2024 de $0.781837 por unidad común, alcanzando aproximadamente $24.5 millones procedentes de Propiedades de Regalías, $6.8 millones de Interés en las Ganancias Netas, $0.6 millones de bonificaciones por arrendamiento y otros ingresos, y $4.0 millones de adquisiciones. La empresa posee intereses en petróleo y gas en 28 estados, cotizando en Nasdaq bajo el símbolo DMLP.
도체스터 미네랄즈, L.P.는 2024년 1분기에 일반 단위당 $0.781837의 현금 배당을 발표했으며, 이는 로열티 부동산에서 약 $24.5백만, 순이익 이자에서 $6.8백만, 임대 보너스 및 기타 수입에서 $0.6백만, 인수에서 $4.0백만을 포함합니다. 이 회사는 나스닥에서 DMLP 기호로 거래되며, 28개 주에서 석유 및 가스 이해관계를 소유하고 있습니다.
Dorchester Minerals, L.P. a annoncé sa distribution de trésorerie pour le premier trimestre de 2024 de 0,781837 $ par unité ordinaire, totalisant environ 24,5 millions de dollars provenant des Propriétés Royalty, 6,8 millions de dollars d'Intérêt sur les Profits Nets, 600 000 $ de bonus de bail et autres revenus, et 4,0 millions de dollars d'acquisitions. La société détient des intérêts pétroliers et gaziers dans 28 États, cotée au Nasdaq sous le symbole DMLP.
Dorchester Minerals, L.P. gab seine Bargeldverteilung für das erste Quartal 2024 bekannt, die $0,781837 pro Stammanteil beträgt, insgesamt etwa $24,5 Millionen aus Lizenz- und Einnahmeobjekten, $6,8 Millionen aus Gewinnbeteiligungen, $0,6 Millionen aus Pachtbonus und sonstigen Einnahmen und $4,0 Millionen aus Übernahmen. Das Unternehmen besitzt Öl- und Gasinteressen in 28 Bundesstaaten und wird unter dem Symbol DMLP an der Nasdaq gehandelt.
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Insights
The recent announcement by Dorchester Minerals, L.P. of a first quarter cash distribution of $0.781837 per common unit is a reflection of their financial performance and may influence investor sentiment. This distribution is backed by $24.5 million in cash receipts from royalty properties, which mainly represents oil and natural gas sales from the past three months. Distributions are a direct indicator of the company's ability to generate cash flow and it is essential to note that approximately 71% of the oil sales and 65% of the natural gas sales occurred in the recent quarter, signaling consistent production levels.
Moreover, the receipts include $6.8 million from net profits interest and $4.0 million from acquisition-related cash contributions. For income-focused investors, such details suggest a robust revenue-generating capacity which might make the partnership an attractive holding. It is important for an investor to consider the distribution in the context of the company's overall financial health, including its earnings stability, debt levels and future growth prospects.
Regarding tax implications, the treatment of distributions to non-U.S. investors as effectively connected income is standard for U.S.-based limited partnerships and indicates compliance with federal tax requirements. This may have implications for the attractiveness of Dorchester Minerals to international investors.
The cash distribution announcement from Dorchester Minerals, L.P. bears significance for stakeholders within the energy sector, particularly due to the commodity prices and production levels. It's indicative that the majority of revenues come from the sale of oil and natural gas. Given the volatility in commodity markets, the stable cash receipts could suggest Dorchester's effective risk management strategies and favorable contract terms.
The distribution also hints at the relative success of their acquisition strategy, with a notable $4.0 million being attributed to this. For investors, this suggests strategic growth alongside organic production, which is often a hallmark of resilience in the energy sector. Understanding the mix of revenue sources—royalties, net profits interest, lease bonuses and other income—allows for a more nuanced perspective on the company's portfolio and risk diversification.
Investors should also be aware of the energy sector's sensitivity to geopolitical events, regulatory changes and technological advancements. Dorchester's ability to maintain distributions in such an environment may reflect positively on their operational and financial management.
DALLAS, April 18, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s first quarter 2024 cash distribution. The distribution of $0.781837 per common unit represents activity for the three-month period ended March 31, 2024 and is payable on May 9, 2024 to common unitholders of record as of April 29, 2024.
Cash receipts attributable to the Partnership’s Royalty Properties during the first quarter totaled approximately $24.5 million. Approximately 71% of these receipts reflect oil sales during December 2023 through February 2024 and natural gas sales during November 2023 through January 2024, and approximately 29% from prior sales periods. Cash receipts attributable to the Partnership’s Net Profits Interest during the first quarter totaled approximately $6.8 million. Approximately 65% of these receipts reflect oil sales and natural gas sales during November 2023 through January 2024, and approximately 35% from prior sales periods.
Cash receipts attributable to lease bonus and other income during the first quarter totaled approximately $0.6 million. Cash receipts attributable to acquisition contributed cash totaled approximately $4.0 million.
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 28 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). Although a portion of Dorchester Minerals, L.P.’s income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Dorchester Minerals, L.P.’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Dorchester Minerals, L.P.’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable. Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. 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.
FAQ
What is Dorchester Minerals, L.P.'s first quarter 2024 cash distribution per common unit?
Dorchester Minerals, L.P. announced a cash distribution of $0.781837 per common unit for the first quarter of 2024.
When is the first quarter 2024 distribution payable to common unitholders?
The distribution is payable on May 9, 2024, to common unitholders of record as of April 29, 2024.
How much cash receipts came from Royalty Properties during the first quarter?
Approximately $24.5 million in cash receipts came from Royalty Properties during the first quarter.
Where does Dorchester Minerals, L.P. trade its common units?
Dorchester Minerals, L.P. trades its common units on the Nasdaq Global Select Market under the symbol DMLP.
What types of oil and gas interests does Dorchester Minerals, L.P. own?
Dorchester Minerals, L.P. owns producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 28 states.
