San Juan Basin Royalty Trust (NYSE:SJT) has declared a monthly cash distribution of $0.147202 per unit for a total of $6,860,919.52. The distribution is based on the company’s production during the month of February in 2010. The distribution will be paid on May 14, 2010. The record date of the distribution is April 30, 2010. The Trust’s previous distribution was declared as $0.180225 per unit, or $8,400,080.51. March’s distribution included granted audit exceptions of 466,915.
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San Juan Basin Royalty Trust (the Trust) is an express trust created by the San Juan Basin Royalty Trust Indenture, between Southland Royalty Company (Southland Royalty) and The Fort Worth National Bank. The Trustee of the Trust is Compass Bank. The function of the Trustee is to collect the net proceeds attributable to the Royalty (Royalty Income), to pay all expenses and charges of the Trust and distribute the remaining available income to the Unit Holders. The Royalty conveyed to the Trust was carved out of Southland Royalty’s working interests and royalty interests in certain properties situated in the San Juan Basin in northwestern New Mexico.
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