Dorchester Minerals, L.P. Announces Its Fourth Quarter Distribution

Rhea-AI Summary

Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a fourth quarter 2025 cash distribution of $0.755712 per common unit for the three-month period ended December 31, 2025. The distribution is payable on February 12, 2026 to holders of record as of February 2, 2026.

Cash receipts attributable to Royalty Properties totaled approximately $32.2 million (≈62% from oil and gas sales for Aug–Nov 2025; 38% from prior periods). Net Profits Interest receipts totaled approximately $4.0 million (≈66% from Aug–Oct 2025; 34% prior periods). Lease bonus and other income totaled approximately $6.0 million. Distributions to non-U.S. investors are treated as effectively connected income and are subject to withholding at the highest marginal rate, with nominees responsible for withholding.

Positive

• Declared distribution of $0.755712 per common unit
• Royalty property cash receipts of $32.2 million in Q4 2025
• Net profits interest cash receipts of $4.0 million in Q4 2025
• Lease bonus and other income of $6.0 million in Q4 2025

Negative

• 38% of royalty receipts derived from prior sales periods
• Distributions to non-U.S. investors subject to withholding at highest marginal rate

Key Figures

Q4 2025 distribution: $0.755712 per common unit Payable date: February 12, 2026 Record date: February 2, 2026 +5 more

8 metrics

Q4 2025 distribution $0.755712 per common unit Represents activity for three-month period ended Dec 31, 2025

Payable date February 12, 2026 Q4 2025 cash distribution payment date

Record date February 2, 2026 Unitholders of record eligible for Q4 2025 distribution

Royalty Properties receipts $32.2 million Cash receipts during Q4 2025 from Royalty Properties

Net Profits Interest receipts $4.0 million Cash receipts during Q4 2025 from Net Profits Interest

Lease bonus & other $6.0 million Cash receipts during Q4 2025 from lease bonus and other income

Prior quarter distribution $0.689883 per unit Q3 2025 cash distribution declared Oct 23, 2025

Royalty current-period mix 62% / 38% Q4 Royalty cash receipts: current vs prior sales periods

Market Reality Check

Price: $24.56 Vol: Volume 182,662 is about 1...

normal vol

$24.56 Last Close

Volume Volume 182,662 is about 1.2x the 20-day average of 152,466, suggesting mildly elevated interest into the distribution news. normal

Technical Price at $23.67 trades below the 200-day MA of $25.61 and is 29.13% under the 52-week high of $33.40, though still 13.53% above the 52-week low of $20.85.

Peers on Argus

DMLP gained 1.8% while royalty peers like KRP, VTS, and MNR rose modestly (aroun...

DMLP gained 1.8% while royalty peers like KRP, VTS, and MNR rose modestly (around 0.9–1.1%), but other E&P names such as VET and HPK fell 3.52% and 8.47%, respectively. Mixed peer moves and no momentum flags indicate this distribution update looked more company-specific than broad sector-driven.

Historical Context

5 past events · Latest: Dec 09 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 09	Board transition	Negative	-1.3%	Longtime leader’s retirement and interim chairman appointment pressured units modestly.
Nov 06	Quarterly earnings	Negative	-1.8%	Weaker Q3 revenues and net income versus prior year drove a small decline.
Nov 04	Board member passing	Negative	-1.8%	Passing of audit chair and leadership change aligned with a modest selloff.
Oct 23	Distribution declaration	Positive	+1.4%	Q3 2025 cash distribution announcement supported a small price gain.
Sep 02	Mineral acquisition	Positive	-0.1%	Colorado mineral interests acquisition drew nearly flat, slightly negative reaction.

Pattern Detected

Recent news—distributions, earnings, governance, and acquisitions—has generally led to modest, often aligned price moves, with acquisitions drawing the least reaction.

Recent Company History

Over the last six months, DMLP reported governance changes, quarterly results, regular distributions, and a mineral interests acquisition. The prior distribution announcement on Oct 23, 2025 with a $0.689883 payout saw a small positive move of 1.44%. Earnings on Nov 6, 2025 featured lower revenues and net income and were met with a -1.79% reaction. The Colorado mineral interests acquisition on Sep 02, 2025 produced only a -0.1% move. Today’s higher Q4 distribution fits this pattern of moderate, directionally consistent responses.

Market Pulse Summary

This announcement details DMLP’s Q4 2025 cash distribution of $0.755712 per common unit, supported b...

Analysis

This announcement details DMLP’s Q4 2025 cash distribution of $0.755712 per common unit, supported by cash receipts of $32.2M from Royalty Properties, $4.0M from Net Profits Interests, and $6.0M from lease bonus and other income. It also reiterates that distributions to non-U.S. investors are treated as effectively connected income for U.S. tax purposes. Compared with the prior $0.689883 Q3 distribution, investors may watch future receipts, commodity pricing, and upcoming filings to gauge distribution sustainability.

Key Terms

royalty, overriding royalty, net profits interests, effectively connected income, +3 more

7 terms

royalty financial

"Cash receipts attributable to the Partnership’s Royalty Properties during the fourth"

A royalty is a payment made to the owner of a resource or asset—such as a patent, mineral rights, or creative work—whenever others use or profit from it. For investors, royalties provide a steady stream of income without owning the entire asset, similar to earning a small commission each time a product is sold or a service is used. This makes royalties an important factor in valuing certain types of investments.

overriding royalty financial

"oil and natural gas mineral, royalty, overriding royalty, and net profits interests"

An overriding royalty is a contract right that gives its holder a fixed percentage of revenue from the sale of produced resources (like oil, gas, or minerals) without owning the underlying property or bearing production costs. Think of it as a persistent slice of future sales left on a product even after the owner sells the asset; investors care because it reduces the seller’s future cash flow and can create predictable income for the royalty holder, affecting company value and deal economics.

net profits interests financial

"oil and natural gas mineral, royalty, overriding royalty, and net profits interests"

A net profits interest is a non‑operating claim on the earnings from a specific asset (commonly oil, gas, or mineral production) that pays its holder a percentage of the money left over after production revenues and agreed costs are deducted. Think of it like owning a share of the profits from a single project without running it; payouts can be attractive but fluctuate with output and expenses, so investors use NPIs to gain income exposure while avoiding operating responsibilities.

effectively connected income regulatory

"distributions to non-U.S. investors should be treated as being attributable to income that is effectively connected income"

Effectively connected income is income earned by a non‑U.S. person that is linked to business activity carried out in the United States — like profits from a U.S. branch or sales tied to operations here. For investors, that connection matters because such income is taxed under U.S. rules (often at regular rates rather than withholding rates), affecting after‑tax returns, required tax filings and possible withholding on distributions. Think of it as income taxed where the business ‘has a store.’

withholding agents regulatory

"Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible"

A withholding agent is an entity (often an employer, broker, or payer) that is legally required to hold back and remit taxes or other required amounts from payments made to a recipient, such as wages, dividends, interest, or contractor fees. For investors, this matters because withheld amounts affect the cash they receive, determine tax reporting and potential refunds, and influence net returns in cross-border or taxable transactions — like a cashier keeping part of a payment to cover a bill.

forward-looking statements regulatory

"FORWARD-LOOKING STATEMENTS Portions of this document may constitute "forward-looking statements""

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Treasury Regulation Section 1.1446-4 regulatory

"qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4)"

A Treasury regulation that sets rules for when and how tax must be withheld from the sale of a partnership interest owned by a foreign person, especially where the partnership has U.S. business activity or assets. It matters to investors because it can reduce the cash a seller receives at closing and create extra compliance and reporting steps for buyers and intermediaries — like a cashier holding back part of a sale to cover likely tax owed until the final bill is settled.

AI-generated analysis. Not financial advice.

DALLAS, Jan. 22, 2026 (GLOBE NEWSWIRE) -- — Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership’s fourth quarter 2025 cash distribution. The distribution of $0.755712 per common unit represents activity for the three-month period ended December 31, 2025 and is payable on February 12, 2026 to common unitholders of record as of February 2, 2026.

Cash receipts attributable to the Partnership’s Royalty Properties during the fourth quarter totaled approximately $32.2 million. Approximately 62% of these receipts reflect oil sales during September 2025 through November 2025 and natural gas sales during August 2025 through October 2025, and approximately 38% from prior sales periods. Cash Receipts attributable to the Partnership’s Net Profits Interest during the fourth quarter totaled approximately $4.0 million. Approximately 66% of these receipts reflect oil sales and natural gas sales during August 2025 through October 2025, and approximately 34% from prior sales periods.

Cash receipts attributable to lease bonus and other income during the fourth quarter totaled approximately $6.0 million.

Dorchester Minerals, L.P. is a Dallas-based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, and net profits interests located in 28 states. Its common units trade on the Nasdaq Global Select Market under the symbol DMLP.

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Although a portion of Dorchester Minerals, L.P.’s income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Dorchester Minerals, L.P.’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Dorchester Minerals, L.P.’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable. Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors.

FORWARD-LOOKING STATEMENTS

Portions of this document may constitute "forward-looking statements" as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price or demand for oil and natural gas, changes in the operations on or development of the Partnership’s properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership’s financial position, business strategy and other plans and objectives for future operations. These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission.

		3838 Oak Lawn Ave., Suite 300
		Dallas, Texas 75219-4541
Contact:	Martye Miller	(214) 559-0300

                

FAQ

What distribution did Dorchester Minerals (DMLP) declare for Q4 2025?

Dorchester Minerals declared a Q4 2025 cash distribution of $0.755712 per common unit.

When is the DMLP fourth quarter distribution payable and what is the record date?

The distribution is payable on February 12, 2026 to unitholders of record as of February 2, 2026.

How much cash did DMLP collect from royalty properties in Q4 2025?

Cash receipts attributable to royalty properties totaled approximately $32.2 million for the quarter.

What portion of DMLP's Q4 net profits interest receipts were from current sales periods?

Approximately 66% of net profits interest receipts reflected oil and gas sales during August–October 2025.

Will DMLP distributions to non-U.S. investors be subject to U.S. tax withholding?

Yes. Distributions to non-U.S. investors are treated as effectively connected income and are subject to withholding at the highest marginal rate, with nominees responsible for withholding.

How much did DMLP report in lease bonus and other income for Q4 2025?

Lease bonus and other income for the fourth quarter totaled approximately $6.0 million.