Amen Properties, Inc. reports operating results and dividend actions for a portfolio of cash-producing properties that includes real estate and oil and gas interests. Its recurring updates focus on revenue, net income, quarterly and special dividends, and the effect of commodity prices and demand on oil and gas royalty income. The company also discloses board policy on not hedging the revenue stream associated with its oil and gas royalties, making commodity exposure a recurring theme in its public communications.
Amen Properties, Inc. (AMEN) reported significant financial improvement for the fiscal quarter ending June 30, 2021, achieving $621 thousand in revenue and a net income of $471 thousand, up from $20 thousand and a loss of $108 thousand in the previous year. This turnaround is attributed to increased oil and gas revenue due to better market conditions. The Board approved a quarterly dividend of $7.50 per share, to be distributed on September 30, 2021. Additionally, the company will no longer hedge its oil and gas revenue, affecting risk exposure for shareholders.
Amen Properties, Inc. (AMEN) reported a quarterly revenue of $422,000 and net income of $154,000 for the fiscal quarter ending March 31, 2021, showing an improvement from $407,000 in revenue and a net loss of $1.5 million in the same quarter last year. The company declared a quarterly dividend of $7.50 per share, payable on June 30, 2021, to shareholders on record as of June 23, 2021. Additionally, the Board approved a plan to cease hedging on oil and gas royalty revenues, emphasizing shareholder responsibility for risk management.
Amen Properties, Inc. (AMEN) reported its Q4 2020 financial results, recording revenue of $415 thousand and a net income of $1.1 million, down from $576 thousand and $136 thousand respectively in Q4 2019. For the full year 2020, revenue decreased by 57% to $1.1 million, with a net loss of $(469) thousand compared to a profit of $27 thousand in 2019. The Board approved a quarterly dividend of $7.50 per share, payable on March 31, 2021. The Company will no longer hedge oil and gas royalty revenues, encouraging shareholders to adopt their own strategies regarding this risk.