Current Annualized Dividend: (based on last reduced quarterly dividend)
Div . Yield: 9.85% Yield.
Next dividend record date around Jan. 08-13, not official yet.
With Middle East tension sure to escalate next year oil prices will sky rocket benefiting BPT .
BP Prudhoe Bay Royalty Trust (the Trust) is a grantor trust. The Trust was formed for the purpose of owning and administering an overriding royalty interest (the Royalty Interest). The Royalty Interest is a non-operational interest in minerals. The Royalty Interest represents the right to receive a per barrel royalty (the Per Barrel Royalty) of 16.4246% on the lesser of the first 90,000 barrels of the average actual daily net production of oil and condensate per quarter or the average actual daily net production of oil and condensate per quarter from BP Exploration (Alaska) Inc. ( BP Alaska) working interest as of February 28, 1989 in the Prudhoe Bay field, located on the North Slope of Alaska. The Prudhoe Bay field is one of four contiguous North Slope oil fields that are operated by BP Alaska, Prudhoe Bay Unit. Standard Oil and BP Alaska are indirect wholly owned subsidiaries of BP p.l.c. ( BP ).
Since NG is now such a big US thing, WTI might be to use in a ratio. I think the Henry Hub NG to Cushing WTI would be a better ratio to follow, but there are some political (selling oil produced in the US requires us tanker - lacking), and storage (NG storage at capacity, and few LNG ship terminals) problems that make that bias the ratio indicator.
Actually I'm not going to get involved in BPT or any MLP's until after the US deals with the debt ceiling. Agree with averaging down, but only after I see where Fitch and Moodys rate United States debt.