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Amen Properties, Inc. (Pink Sheets: AMEN) right now introduced monetary outcomes for its fiscal quarter ended June 30, 2021. The Firm posted quarterly income of $621 thousand and internet revenue of $471 thousand. These outcomes evaluate to income of $20 thousand and internet revenue of $(108) thousand for a similar quarter final 12 months. The Firm’s enchancment in profitability was precipitated primarily by elevated oil and gasoline income ensuing from improved market situations versus 2020 when the pandemic dramatically decreased demand.
Amen additionally introduced that the Firm’s Board of Administrators has accredited the fee of a quarterly dividend of $7.50 per share, to be paid on September 30, 2021, to shareholders of document as of the shut of enterprise on September 23, 2021.
Lastly, Amen reiterated that its Board has accredited a plan whereby the Firm will now not hedge the income stream related to its oil and gasoline royalties. “Shareholders of Amen want to grasp that they maintain an un-hedged lengthy oil and gasoline place and will pursue their very own hedging technique if they’re uncomfortable with that threat,” stated Kris Oliver, Amen’s Chief Monetary Officer.
The Firm’s 2021 second quarter report is out there for viewing or obtain from the corporate’s website – www.amenproperties.com.
About Amen Properties:
Amen Properties owns a portfolio of cash-producing properties together with actual property and oil and gasoline pursuits.
This doc incorporates forward-looking statements, which contain a lot of dangers and uncertainties that would trigger our precise outcomes to vary materially from these mirrored within the forward-looking statements. Ahead-looking statements may be recognized by use of the phrases “anticipate,” “venture,” “might,” “would possibly,” potential,” and comparable phrases. AMEN Properties, Inc. (“Amen”, “we” or the “Firm”) cautions readers that any forward-looking data shouldn’t be a assure of future efficiency and that precise outcomes might differ materially from these contained within the forward-looking data. Ahead-looking statements contain a lot of dangers, uncertainties or different components past Amen’s management. These components embrace, however will not be restricted to, our potential to implement our strategic initiatives, financial, political and market situations and worth fluctuations, authorities and business regulation, U.S. and world competitors and different components. We undertake no obligation to replace any forward-looking assertion, whether or not on account of new data, future occasions or in any other case.
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Supply: Amen Properties, Inc.