Dorchester Minerals, L.P. Announces Its Third Quarter Distribution

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a cash distribution of $0.507608 per common unit for Q3 2021, payable on November 10, 2021, to unitholders of record by November 1, 2021. The Partnership's cash receipts from Royalty Properties reached approximately $17.3 million, with 77% derived from oil and gas sales between May and August 2021. Additionally, Net Profits Interests contributed around $3.3 million. Dorchester owns mineral and royalty interests across 26 states.

Positive

• Q3 cash distribution of $0.507608 per common unit.
• Total cash receipts of approximately $17.3 million from Royalty Properties.
• Net Profits Interests contributed approximately $3.3 million.

Negative

• None.

DALLAS, Oct. 21, 2021 (GLOBE NEWSWIRE) --  — Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s third quarter 2021 cash distribution. The distribution of $0.507608 per common unit represents activity for the three-month period ended September 30, 2021 and is payable on November 10, 2021 to common unitholders of record as of November 1, 2021.

Cash receipts attributable to the Partnership’s Royalty Properties during the third quarter totaled approximately $17.3 million. Approximately 77% of these receipts reflect oil sales during June 2021 through August 2021 and gas sales during May 2021 through July 2021, and approximately 23% from prior sales periods. Cash receipts attributable to the Partnership’s Net Profits Interests during the third quarter totaled approximately $3.3 million. Approximately 77% of these receipts reflect oil sales and gas sales during May 2021 through July 2021, and approximately 23% from prior sales periods.

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 26 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 the cash distribution announced by Dorchester Minerals for Q3 2021?

Dorchester Minerals announced a cash distribution of $0.507608 per common unit for Q3 2021.

When will the cash distribution for DMLP be payable?

The cash distribution will be payable on November 10, 2021.

What were the total cash receipts from Royalty Properties in Q3 2021?

The total cash receipts from Royalty Properties in Q3 2021 were approximately $17.3 million.

How much did the Net Profits Interests contribute in Q3 2021 for DMLP?

The Net Profits Interests contributed approximately $3.3 million in Q3 2021.

Which states does Dorchester Minerals operate in?

Dorchester Minerals operates in 26 states across the U.S.