About San Juan Basin Royalty Trust Common Stock (SJT)
San Juan Basin Royalty Trust is a natural resource company that primarily focuses on the acquisition and management of oil and gas royalties in the San Juan Basin region of New Mexico and Colorado. The trust holds interests in various oil and natural gas properties, enabling it to generate income through the production and sale of these resources. The financial structure of the trust allows it to distribute a significant portion of its earnings to its unitholders, making it a popular investment choice for those seeking exposure to energy markets without directly engaging in exploration and production activities. Read More
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San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT) announced today that the resignation of PNC Bank (“PNC”) as Trustee of the Trust and appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”) as successor Trustee is effective as of February 15, 2024. At a Special Meeting of the Trust’s Unit Holders held on January 16, 2024, the Unit Holders of the Trust voted to approve two separate proposals amending the Indenture, the governing document of the Trust, and the appointment of Argent as successor Trustee to PNC.
PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $758,308.20 or $0.016270 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of November 2023. The distribution is payable February 14, 2024, to the Unit Holders of record as of January 31, 2024.
San Juan Basin Royalty Trust (NYSE:SJT) (the “Trust”) today announced that, at the Special Meeting of the Trust’s Unit Holders held on January 16, 2024, the Unit Holders of the Trust voted to approve the appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”) as successor Trustee to PNC Bank, National Association, the current trustee of the Trust. Unit Holders also approved two separate proposals amending the Indenture, the governing document of the Trust. The proposals approved and adopted by the Unit Holders included amendments (i) permitting a successor trustee to be a bank or trust company having a capital, surplus and undivided profits (as of the end of its last fiscal year prior to its appointment) of at least $15,000,000, (ii) an amendment that would clarify the word “Trustee” to include former trustees for indemnification purposes. The resignation of PNC Bank, National Association as trustee and the appointment of Argent as successor trustee is expected to take place on February 15, 2024.
PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $574,347.16 or $0.012323 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of October 2023. The distribution is payable January 16, 2024, to the Unit Holders of record as of December 29, 2023.
San Juan Basin Royalty Trust (NYSE: SJT) (the “Trust”) today announced that the Special Meeting of the Trust’s Unit Holders held on December 1, 2023, for the purpose of obtaining Unit Holder approval of the appointment of Argent Trust Company, a Tennessee chartered trust company (“Argent”), as successor trustee to PNC Bank, National Association, the trustee of the Trust (the “Trustee”), together with two additional proposed amendments to the San Juan Basin Royalty Trust Indenture, was adjourned due to the lack of the requisite quorum. The Special Meeting has been adjourned until January 16, 2024 at 10:00 a.m. Central Time, to be held in person at 2200 Post Oak Blvd., Floor 19, Houston, Texas 77056 and virtually via webcast at www.virtualshareholdermeeting.com/SJT2023SM.
PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $788,156.02 or $0.016910 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of September 2023. The distribution is payable December 14, 2023, to the Unit Holders of record as of November 30, 2023.
At first glance, October 2023's data for dividend changes looks like an improvement from September 2023. Month-over-month, the number of declared dividend increases rose and the number of dividend decreases fell, which is a positive development.
PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $2,269,587.37 or $0.048694 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of August 2023. The distribution is payable November 14, 2023, to the Unit Holders of record as of October 31, 2023.
PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $2,507,212.89 or $0.053793 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of July 2023. The distribution is payable October 16, 2023, to the Unit Holders of record as of September 29, 2023.
PNC Bank, National Association (“PNC”), as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), announced that it has entered into an Agreement of Conditional Resignation with Argent Trust Company, a Tennessee chartered trust company (“Argent”), pursuant to which the Trustee will be resigning as trustee of the San Juan Basin Royalty Trust, and will nominate Argent as successor trustee.
