BP Prudhoe Bay Royalty Trust, a mineral operator trust, will pay a regular quarterly dividend of $2.01 on January 19 to holders as of Friday, January 12. That’s 2.9% of the share price of $70.520, or a 11% annual yield. The trust distributes royalties on oil produced from Prudhoe Bay and has no other income stream. May be a risky bet in the long term, especially after BP closed part of its Prudhoe Bay oilfield. A state tax hike due this year will further lower trust distributions.

BPT quote

This entry was posted on Tuesday, January 2nd, 2007 at 12:34 am and is filed under Div Alert. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.