Marine Petroleum Trust (NASDAQ:MARPS) had declared a cash dividend of $0.0435 on Aug 19, 2016. The shares will quote ex-dividend on Aug 29, 2016 and the record date has been fixed for Aug 31, 2016. On Aug 19, 2016 share price, the yield comes out to be 4.3962%. The dividend payable date has been fixed on Sep 28, 2016.
Marine Petroleum Trust (MARPS) shares turned negative on Mondays trading session with the shares closing down -0.0928 points or -2.35% at a volume of 656. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.9341. The peak price level was also seen at $3.9341 while the days lowest was $3.8546. Finally the shares closed at $3.8546. The 52-week high of the shares is $7.7 while the 52-week low is $3.072. According to the latest information available, the market cap of the company is $7.7 M.
Marine Petroleum Trust (the Trust) is a royalty trust. The Trust is engaged in the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of Mexico. The Trust holds an overriding royalty interest equal to 0.75% of the value at the well of any oil natural gas or other minerals produced and sold from the leases. The Trust holds an interest in Tidelands Royalty Trust B (Tidelands) a separate Texas trust which owns interests in four leases. The Trust’s interests cover an aggregate of approximately 217056 gross acres including Tidelands’ interest in approximately 17188 gross acres. The Trust’s subsidiary Marine Petroleum Corporation (MPC) holds title to interests in properties subject to the Trust’s interests that are situated offshore of Louisiana. Around 98% of all oil natural gas and other mineral royalties collected by MPC less the receiving and collection costs are retained by and delivered to the Trust.