The Trustees of North European Oil Royalty Trust (NYSE:NRT) announced on October 29, 2026 a fourth-quarter fiscal 2026 cash distribution of $0.20 per unit, payable November 30, 2026 to unitholders of record on November 17, 2026.

Key Highlights

  • Distribution amount: $0.20 per unit for the fourth quarter of fiscal 2026, down from $0.31 for the same quarter of fiscal 2025.
  • Sequential comparison: The $0.20 distribution compares to $0.26 paid for the third quarter of fiscal 2026.
  • Payment schedule: The distribution is payable on November 30, 2026 to owners of record on November 17, 2026.
  • Overpayment impact: A de-sulfurization plant shutdown for maintenance during the quarter resulted in an overpayment of royalties, generating a negative carry-over expected to reduce first fiscal quarter 2027 distributions.
  • Cumulative 12-month distribution: $0.90 per unit, which is $0.09 per unit, or 11.1%, higher than the prior 12-month cumulative distribution of $0.81 per unit.
  • Royalty structure: Monthly royalty payments are paid based on the amount of royalties payable to the Trust in the prior calendar quarter, in accordance with the Mobil and OEG Royalty Agreements.

Q4 Fiscal 2026 Distribution Details and Royalty Carry-Over Effect

According to the filing, the Trust declared a $0.20 per unit distribution for the fourth quarter of fiscal 2026, a decline compared to both the $0.31 per unit paid in the fourth quarter of fiscal 2025 and the $0.26 per unit paid in the third quarter of fiscal 2026. The Trust receives royalty income under the Mobil and OEG Royalty Agreements, with monthly payments calculated based on the royalties payable to the Trust in the prior calendar quarter.

The filing disclosed that a shutdown of the de-sulfurization plant during the fourth quarter for maintenance purposes resulted in an overpayment of royalties. The Trust reported that this overpayment has generated a negative carry-over, and as a result, the cash distribution to unit owners for the first fiscal quarter of 2027 "is expected to be decreased," according to the filing. The Trust noted that its distributions are made quarterly, during the months of February, May, August, and November, to the extent that funds are available.

On a trailing 12-month basis, the cumulative distribution, which includes the November 2026 payment and the three prior quarterly distributions, stands at $0.90 per unit, according to the announcement. The filing stated this figure is 11.1%, or $0.09 per unit, higher than the prior 12-month cumulative distribution of $0.81 per unit. The filing also noted that additional details will be available in the Trust's annual filing on or about January 15, 2027.

What Was Disclosed

The Trustees of North European Oil Royalty Trust disclosed a fourth-quarter fiscal 2026 distribution of $0.20 per unit, a maintenance-related royalty overpayment that will reduce first-quarter fiscal 2027 income, and a trailing 12-month cumulative distribution of $0.90 per unit.