Dorchester Minerals announces Q4 2024 cash distribution of $0.739412 per unit, payable February 13, 2025.
Quiver AI Summary
Dorchester Minerals, L.P. announced a cash distribution of $0.739412 per common unit for the fourth quarter of 2024, which will be paid on February 13, 2025, to unitholders of record as of February 3, 2025. For this period, the Partnership reported cash receipts of approximately $34.9 million from its Royalty Properties, primarily from oil and natural gas sales, with additional receipts from Net Profits Interest totaling about $5.4 million. The company, based in Dallas, owns mineral and royalty interests across 28 states and is listed on NASDAQ under the symbol DMLP. The release also includes a notice regarding tax withholding on distributions to non-U.S. investors and mentions the potential risks associated with forward-looking statements related to the company’s operations and market conditions.
Potential Positives
- Announcement of a fourth quarter cash distribution of $0.739412 per common unit, demonstrating the Partnership's ability to generate income for its unitholders.
- Cash receipts attributable to Royalty Properties totaled approximately $34.9 million, indicating strong revenue performance in the oil and natural gas sector.
- Distribution is payable to unitholders on February 13, 2025, providing liquidity and reinforcing investor confidence in the Partnership's ongoing financial health.
Potential Negatives
- The distribution of $0.739412 per common unit may reflect a decrease compared to previous distributions, indicating potential financial stress or reduced profitability.
- The reliance on prior sales periods for a significant portion of cash receipts raises concerns about future revenue generation and operational stability.
- Increased tax implications for non-U.S. investors due to federal income tax withholding may deter foreign investment, impacting overall market interest in the company's units.
FAQ
What is the cash distribution announced by Dorchester Minerals for Q4 2024?
The cash distribution is $0.739412 per common unit, payable on February 13, 2025.
When is the record date for the Q4 2024 cash distribution?
The record date for the cash distribution is February 3, 2025.
How much cash did the Partnership receive from Royalty Properties in Q4 2024?
In Q4 2024, cash receipts from Royalty Properties totaled approximately $34.9 million.
What percentage of cash receipts came from oil and natural gas sales?
Approximately 68% of cash receipts from Royalty Properties were from oil and natural gas sales.
Are Dorchester Minerals' distributions to non-U.S. investors subject to withholding?
Yes, distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DMLP Insider Trading Activity
$DMLP insiders have traded $DMLP stock on the open market 21 times in the past 6 months. Of those trades, 21 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $DMLP stock by insiders over the last 6 months:
- MINERALS OPERATING LP DORCHESTER has made 18 purchases buying 33,454 shares for an estimated $1,097,798 and 0 sales.
- LESLIE A MORIYAMA (Chief Financial Officer) has made 2 purchases buying 15,268 shares for an estimated $519,547 and 0 sales.
- BRADLEY J EHRMAN (Chief Executive Officer) purchased 14,430 shares for an estimated $496,536
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DMLP Hedge Fund Activity
We have seen 42 institutional investors add shares of $DMLP stock to their portfolio, and 35 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY added 59,699 shares (+8.8%) to their portfolio in Q3 2024, for an estimated $1,799,924
- EDGE CAPITAL GROUP, LLC removed 35,000 shares (-50.0%) from their portfolio in Q3 2024, for an estimated $1,055,250
- FIRST TRUST ADVISORS LP added 31,988 shares (+22.6%) to their portfolio in Q3 2024, for an estimated $964,438
- CITADEL ADVISORS LLC removed 31,262 shares (-62.3%) from their portfolio in Q3 2024, for an estimated $942,549
- CITIGROUP INC removed 29,516 shares (-90.2%) from their portfolio in Q3 2024, for an estimated $889,907
- CONCORDE FINANCIAL CORP removed 24,145 shares (-32.8%) from their portfolio in Q3 2024, for an estimated $727,971
- TEXAS YALE CAPITAL CORP. added 20,400 shares (+37.2%) to their portfolio in Q3 2024, for an estimated $615,060
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, Jan. 23, 2025 (GLOBE NEWSWIRE) -- — Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s fourth quarter 2024 cash distribution. The distribution of $0.739412 per common unit represents activity for the three-month period ended December 31, 2024 and is payable on February 13, 2025 to common unitholders of record as of February 3, 2025.
Cash receipts attributable to the Partnership’s Royalty Properties during the fourth quarter totaled approximately $34.9 million. Approximately 68% of these receipts reflect oil sales during September 2024 through November 2024 and natural gas sales during August 2024 through October 2024, and approximately 32% from prior sales periods. Cash Receipts attributable to the Partnership’s Net Profits Interest during the fourth quarter totaled approximately $5.4 million. Approximately 61% of these receipts reflect oil sales and natural gas sales during August 2024 through October 2024, and approximately 39% from prior sales periods.
Cash receipts attributable to lease bonus and other income during the fourth quarter totaled approximately $0.7 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.
Contact: | Martye Miller | (214) 559-0300 |