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North European Oil Royalty Trust announced a $0.26 per unit distribution for the third quarter of fiscal 2026, equal to the third quarter of 2025 and higher than the second quarter 2026 distribution of $0.22. The third-quarter distribution is payable on August 31, 2026 to unitholders of record on August 17, 2026.
The cumulative 12-month distribution, including this payment, is $1.01 per unit, which the Trust states is 47.5% or $0.49 per unit above the prior 12-month distribution of $0.52. The Trust receives royalties under its Mobil and OEG Royalty Agreements, with monthly royalty payments based on royalties payable in the prior quarter, and generally makes quarterly distributions in February, May, August, and November.
North European Oil Royalty Trust reported sharply higher results for the first six months of fiscal 2026, driven by stronger royalty income and sulfur prices. Total royalty income rose to $4.60 million from $2.98 million, lifting net income to $3.99 million from $2.55 million. Distributions reached $0.44 per unit versus $0.24 a year earlier, while 9,190,590 units were outstanding as of April 30, 2026. Cash and cash equivalents decreased to $3.91 million from $4.79 million at fiscal year-end, mainly due to higher distributions and expenses. Expenses increased, largely reflecting higher legal and regulatory costs, but the Trust reported effective disclosure controls and no legal proceedings.
North European Oil Royalty Trust declared a cash distribution of $0.22 per unit for the second quarter of fiscal 2026. This matches the first quarter 2026 payout and exceeds the $0.20 distribution for the second quarter of fiscal 2025.
The $0.22 distribution is payable on May 27, 2026 to owners of record on May 13, 2036. The cumulative 12‑month distribution, including this payment and the three prior quarterly distributions, is $1.01 per unit, which is 115%, or $0.54 per unit, higher than the prior 12‑month total of $0.47.
The Trust notes that royalties for the quarter ending April 30, 2026 are based on prior‑quarter royalty levels and therefore do not fully reflect the recent period of higher prices. It also highlights standard forward‑looking risks, including depleting assets, gas price volatility, operator performance, and geopolitical and economic uncertainty.
NORTH EUROPEAN OIL ROYALTY TRUST insider trading update: Trustee Howard Richard Page reported two open-market sales of Units of Beneficial Interest in the trust. On March 17, 2026, he sold 10,000 units at $8.7323 and 15,000 units at $8.5519, for a total of 25,000 units sold. After these transactions, he directly holds 250,000 Units of Beneficial Interest.
North European Oil Royalty Trust reported a sharp rebound in results for the quarter ended January 31, 2026. Total royalty income rose to $2,212,286 from $505,697 a year earlier, lifting net income to $1,945,021 from $285,468. Distributions increased to $0.22 per unit from $0.04, paid to 9,190,590 units of beneficial interest.
Management attributes the improvement to the absence of a large prior-year negative royalty adjustment, stronger gas sales from successful well maintenance and full use of processing facilities, and higher sulfur prices, which drove sulfur royalties up to $252,431 from $70,202. Cash and cash equivalents were $3,881,094, and the Trust continues to operate as a passive vehicle, distributing essentially all royalty income to unitholders while highlighting ongoing risks from depleting reserves, gas prices, exchange rates, and possible processing plant shutdowns.
North European Oil Royalty Trust reported results of its Annual Meeting of Unit Owners held on February 17, 2026. A total of 1,996,448 Units were represented in person or by proxy. Unit owners elected four trustees to serve until the next annual meeting, including Andrew S. Borodach with 1,691,024 votes for and 305,424 withheld, and Richard P. Howard with 1,907,063 votes for and 89,385 withheld. They also gave advisory, non-binding approval of the Managing Director’s compensation, with 1,384.061 votes for, 268,385 against and 344,002 abstentions.
North European Oil Royalty Trust filed a current report describing its announcement of the distribution for the first quarter of fiscal 2026. On January 30, 2026, the Trust issued a press release via PR Newswire detailing this distribution, and that release is attached as an exhibit.
The press release is furnished as Exhibit 99 and incorporated by reference, meaning the key distribution information is contained in that attached document rather than in the body of the report itself.
North European Oil Royalty Trust reported that its Managing Director, John R. Van Kirk, has decided to retire effective January 30, 2026. To manage the transition, the Trust’s Managing Trustee, Nancy J. Floyd Prue, will serve as interim Managing Director effective the same date.
Ms. Floyd Prue, age 71, is a Chartered Financial Analyst and attorney with 35 years at Adams Funds, where she was part of the executive team managing $2.7 billion in two closed-end funds and served as President and Senior Portfolio Manager of Adams Natural Resources Fund, specializing in oil and gas investments. She has been a Trustee of the Trust since March 2018 and Managing Trustee since March 2023, and will continue to be compensated under the Trust’s standard policies for Trustees.
The Trust states there are no special arrangements or family relationships related to her selection as interim Managing Director and no related-party transactions requiring disclosure. On January 16, 2026, the Trust issued a press release announcing Mr. Van Kirk’s retirement, which is included as an exhibit.
North European Oil Royalty Trust is holding its Annual Meeting of Unit Owners on February 17, 2026 at 11:00 a.m. EST via Zoom for holders of record as of December 31, 2025. Unit owners will vote on Proposal One, the election of four incumbent Trustees, and Proposal Two, an advisory vote to approve the compensation of the Trust’s Managing Director.
The Trust has 9,190,590 units outstanding, each with one vote. The Managing Director’s total compensation was $152,615 in fiscal 2025, up from $148,753 in 2024, and is set at $153,336 for fiscal 2026. Trustee fees are based on a formula tied to gross royalties, with additional flat amounts for roles such as Managing Trustee, Audit Committee Chair, and Clerk.
The proxy details governance structures, including an all‑independent board under NYSE rules, separate Managing Trustee and Managing Director roles, active Audit and Compensation Committees, and policies on related‑party transactions, auditor oversight, and insider trading and anti‑hedging.