Sabine Royalty Trust (NYSE:SBR) had declared a cash dividend of $0.1346 on Jul 7, 2016. The shares will quote ex-dividend on Jul 14, 2016 and the record date has been fixed for Jul 18, 2016. On Jul 7, 2016 share price, the yield comes out to be 4.8739%. The dividend payable date has been fixed on Jul 29, 2016.
Sabine Royalty Trust (the Trust) is an express trust. The trustee of the Trust is Southwest Bank. The Royalty Properties are the assets of the Trust. The Royalty Properties constitutes interests in gross production of oil gas and other minerals free of the costs of production. The Royalty Properties consist of royalty and mineral interests including landowner’s royalties overriding royalty interests minerals (other than executive rights bonuses and delay rentals) production payments and any other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida Louisiana Mississippi New Mexico Oklahoma and Texas. These properties are represented by approximately 5400 tracts of land. Approximately 2950 of the tracts are in Oklahoma 1750 in Texas 330 in Louisiana 200 in New Mexico 150 in Mississippi and 12 in Florida.