North European Oil Royalty Trust (NRT) Reports Fourth Quarter Income and Distribution
North European Oil Royalty Trust reported net income of $3.5 million, or $0.38 per unit, for its fourth fiscal quarter ending 10/31/2009. During the same quarter last year, the company earned $9.4 million, or $1.02 per unit. The company paid a distribution of $0.38 per unit in the quarter. Management of the North European Oil Royalty Trust blamed the sharp year over year fall in gas prices for the lower income. The North European Oil Royalty Trust is a trust set up to receive royalties from hydrocarbon producing areas in Germany. ExxonMobil Corporation (XOM) and Royal Dutch/Shell (RDS) are the…