Mesa Royalty Trust Announces There Will Be No Distribution Paid For The Month Of August 2024 To Holders Of Record On August 30, 2024
Portfolio Pulse from Benzinga Newsdesk
Mesa Royalty Trust (NYSE:MTR) announced that there will be no distribution for August 2024 due to costs exceeding revenue from its royalty properties.
August 20, 2024 | 8:15 pm
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Mesa Royalty Trust will not pay a distribution for August 2024 due to costs exceeding revenue from its royalty properties.
The announcement of no distribution is likely to negatively impact MTR's stock price in the short term as investors may react to the lack of income from the trust. The decision was due to costs, charges, and expenses exceeding revenue, which is a concerning financial signal.
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