Dorchester Minerals, L.P. Announces Its Second Quarter Distribution
24 July 2021 - 8:46AM
Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the
Partnership’s second quarter 2021 cash distribution. The
distribution of $0.480528 per common unit represents activity for
the three-month period ended June 30, 2021 and is payable on August
12, 2021 to common unitholders of record as of August 2, 2021.
Cash receipts attributable to the Partnership’s
Royalty Properties during the second quarter totaled approximately
$15.0 million. Approximately 82% of these receipts reflect oil
sales during March 2021 through May 2021 and gas sales during
February 2021 through April 2021, and approximately 18% from prior
sales periods. Cash receipts attributable to the Partnership’s Net
Profits Interests during the second quarter totaled approximately
$3.4 million. Approximately 69% of these receipts reflect oil sales
and gas sales during February 2021 through April 2021, and
approximately 31% from prior sales periods.
Small, Quiet and Boring Outfit Distributes a
Billion Dollars to Its Partners
Dorchester Minerals, L.P., the first publicly
traded minerals and royalty partnership, will have distributed more
than a billion dollars to its partners as of the August 12th
distribution date. The Partnership achieved this milestone with no
debt, no dilutive equity compensation, and no UBTI.
The Partnership is the result of the merger of
Republic Royalty Company, Spinnaker Royalty Company and Dorchester
Hugoton, Ltd. in January 2003. The founders of Republic, its
predecessor SASI Minerals, and Spinnaker started acquiring minerals
and royalties in 1986, and Vaughn Petroleum, Inc and its
predecessors since the 1920’s. All of those assets were ultimately
rolled up into Dorchester Minerals; several of the original
founders continue to be engaged in the Partnership’s activities
including General Partners and Board Members Pete Allen and Robie
Vaughn, and CEO, Board Chairman and General Partner, Casey
McManemin.
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.
Contact: Martye Miller (214) 559-0300
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