Seeking Alpha • Apr 06

Dorchester Minerals: Still A Buy, But Beware Of Iran-Driven Risks

Summary Dorchester Minerals, L.P. remains a Buy, supported by a debt-free balance sheet and robust distributions despite their recent price appreciation. The partnership’s $15.5 million legal settlement will boost upcoming distributions, enhancing near-term yield. Valuation remains attractive, with intrinsic value estimated above current levels despite using relatively conservative estimates. Iran-driven boost may only be temporary, while the risk of subsequent issues rises with every day that passes. Read the full article on Seeking Alpha

Seeking Alpha • Apr 22

Dorchester Minerals: Solid Business Model And Balance Sheet To Sustain Cash Distributions

Summary Dorchester Minerals remains profitable despite market volatility, leveraging acquisitions and a solid balance sheet with stable cash levels and no debt. DMLP's business model, focused on acquiring mineral rights and royalty interests, ensures low capital intensity and cost sensitivity, maintaining profitability even with fluctuating oil and gas prices. The company has a strong liquidity position, with a current ratio of 13.0x and significant free cash flow, making it an attractive option for income-focused investors. Despite weak momentum, DMLP stock is undervalued with a potential upside of 64%, supported by consistent cash distributions and growth catalysts in natural gas demand. Read the full article on Seeking Alpha

Seeking Alpha • Feb 25

Dorchester Minerals: Quarterly Distribution May Average $0.80 During 2025

Summary Dorchester's Q4 2024 distribution was approximately $0.74 per unit, down -26% compared to Q3 2024. Q3 2024 was an outlier though, and its Q4 2024 distribution and sales volumes were in line with my expectations. Dorchester's quarterly distribution may average around $0.80 per unit at the current strip of around $70 WTI oil and $4.25 NYMEX gas. Oil is much more important than natural gas to Dorchester, but it still benefits from the very significant improvement in natural gas prices. Read the full article on Seeking Alpha

Seeking Alpha • Dec 19

Dorchester Minerals: Q3 2024 Distribution Was A Positive Surprise

Summary Dorchester declared a Q3 2024 distribution of nearly $1 per unit. This was driven by a large increase in sales volumes, with its oil sales volumes up 52% compared to Q2 2024. Dorchester's sales volumes fluctuate, so the large increase may not be sustained. The trajectory is positive, though, and I've increased my estimate of Dorchester's value to $35.25 per unit. Read the full article on Seeking Alpha

Seeking Alpha • Oct 10

Dorchester Minerals: Acquisitions Should Boost Near-Term Distributable Cash Flow

Summary Dorchester made a couple of acquisitions for a combined total of approximately $216 million, paid for with 7.25 million common units. The Permian Basin acquisition accounts for 93% of that, and is the largest acquisition in Dorchester's recent history. The acquisitions may add around 27% to Dorchester's Q3 2024 distributable cash flow, while increasing its unit count by 18%. Longer-term impact is more uncertain, but Dorchester's management has a solid track record. Read the full article on Seeking Alpha

Seeking Alpha • Aug 30

Dorchester Minerals: Units Become More Attractive In A Lower Interest Rate Environment

Summary Dorchester's Q2 2024 oil sales volumes rebounded by 7% from Q1 2024. Dorchester's distribution for Q2 2024 ended up at slightly over $0.70 per unit. Its Q3 and Q4 distributions should average around $0.70 per unit as well, assuming similar sales volumes and based on the current strip. Dorchester's high yield may become more attractive as interest rates are cut. Read the full article on Seeking Alpha

Seeking Alpha • Aug 16

Dorchester Minerals LP: 9% Yield Vs. Energy Royalty Peers

Summary Energy royalty trusts offer high-yield income on crude oil, natural gas and natural gas liquids. Dorchester Minerals, L.P. operates similarly to energy trusts, collecting royalties and paying out 100% of net income to unit holders. DMLP's earnings are tied to oil, natural gas and LNG prices, with a recent distribution at $.7818, offering a forward yield of ~9%. Read the full article on Seeking Alpha

Seeking Alpha • May 24

Dorchester Minerals: Acquisitions Provide A Temporary Boost To Its Distributions

Summary Dorchester's Q1 2024 distribution of $0.781837 was in-line with my expectations. DMLP benefited from acquisitions that added around $4 million to Q1 2024 cash receipts in exchange for 0.505 million common units. Cash receipts in future quarters are unlikely to benefit as much from the acquired assets. The Company's organic royalty oil sales volumes declined around -14% per day compared to Q4 2023. Read the full article on Seeking Alpha

Seeking Alpha • Mar 05

Dorchester Minerals: Forward Yield Is Estimated At 10%

Summary Dorchester Minerals, L.P.'s sales volumes dipped slightly in Q4 2023 compared to Q3 2023. However, its Q4 2023 sales volumes were up +16% compared to Q4 2023. This was mostly organic growth, as its unit count increased by 3% year-over-year. I estimate that Dorchester can pay out $3.00 to $3.20 per unit in 2024 distributions based on current strip prices. Read the full article on Seeking Alpha

Seeking Alpha • Feb 04

Dorchester Minerals: Royalty Trust, 13% Yield

Summary Dorchester Minerals LP is an energy trust that leases out land to energy producers in exchange for royalties. DMLP owns properties in 28 states and can acquire new properties to increase its reserves. DMLP's revenues have been affected by lower oil and natural gas prices, but it still offers a high dividend yield of 13%. Read the full article on Seeking Alpha

Seeking Alpha • Oct 19

Dorchester Minerals: Lease Bonus Payment Boosts Q3 2022 Distribution

Summary Dorchester received a lease bonus payment that should add around $0.19 per unit to its Q3 2022 distribution. I estimate that its Q3 2022 distribution could end up around $1.10 to $1.15 per unit. Dorchester's latest acquisition should also slightly increase its per distributable cash flow per unit. Dorchester's distribution is now expected to be around $0.75 to $0.80 per unit in 2023 based on current strip. Dorchester Minerals (DMLP) looks set to report a strong Q3 2022 distribution (probably around $1.10 to $1.15 per unit), as it benefited from a $7.3 million lease bonus payment during the quarter. It also made an acquisition of 2,100 net royalty acres (primarily Eagle Ford acreage) that appears to improve its near-term cash flow per common unit. Dorchester's Q2 2022 production ended up meeting my expectations and I'd now value it at approximately $30 per unit in a long-term $75 WTI oil environment after its latest transaction. Lease Transaction Dorchester announced that it leased 243 net acres in the Midland Basin for $30,000 per net acre and a 25% royalty. This resulted in a $7.3 million lease bonus payment that will boost Dorchester's Q3 2022 distribution. This lease bonus payment will add approximately $0.19 per unit to Dorchester's Q3 2022 distribution, and results in a significant boost compared to previous quarters. Dorchester only reported $1.25 million in lease bonuses in 1H 2022 and $0.83 million in lease bonuses in 2021. The lease bonus payment should help boost Dorchester's Q3 2022 distribution to around the $1.10 to $1.15 per unit range despite weaker oil prices later in the quarter. Recent Acquisition Dorchester acquired 2,100 net royalty acres in New Mexico and Texas in September from Excess Energy LLC in exchange for 816,719 common units. These units had a value of $20.4 million based on Dorchester's share price at the end of September when the deal closed. The acquired royalty acreage appears to largely match (although the net royalty acres are around 7% smaller than) the package that Excess Energy put up for sale in July. Most of the acquired net royalty acreage appears to be in the Eagle Ford (Webb County), and the projected next 12-month net cash flow was estimated at $7.5 million at the time. With lower strip prices now and a slightly lower amount of net royalty acreage, the next 12-month net cash flow may be closer to $6 million now. The near-term cash flow to purchase price ratio is quite high, although the longer-term cash flow from those assets is subject to a fair amount of variability due to development patterns. Excess Energy indicated that only around 28% of the next 12-month net cash flow projection was from PDP wells, and near-term cash flow was getting a large boost from wells coming online. Stable Base Production Dorchester's production in Q2 2022 was pretty flat (down -1% in total volume for both oil and gas) compared to Q1 2022. This was consistent with my expectation that Dorchester's Q2 2022 production levels ended up close to its Q1 2022 production levels. Production Q3 2021 Q4 2021 Q1 2022 Q2 2022 Royalty natural gas sales (mmcf) 971 940 1,147 1,105 Royalty oil sales (mbbls) 271 265 369 318 NPI natural gas sales (mmcf) 304 347 320 353 NPI oil sales (mbbls) 80 113 94 139

Seeking Alpha • Oct 05

Dorchester Minerals: Not Enough Leverage

Summary The booming oil and gas prices of 2022 have been wonderful for Dorchester Minerals and their unitholders. Due to the nature of their mineral rights partnership, all of their operating cash flow is translated into free cash flow and thus is available for distribution payments. Whilst this sounds positive, it should be remembered they still need to acquire new assets to offset depletion, if not preferably, grow larger. They carry zero debt because these are always funded by issuing common equity, which is the most expensive source of capital and thus hinders creating value for their unitholders. I feel they do not have enough leverage and thus as a result, I only believe a neutral rating is appropriate. Introduction The booming oil and gas prices have been terrible for consumers but elsewhere, those fortunate to own direct exposure have seen their pockets lined very well, such as Dorchester Minerals (DMLP) who offers a very high distribution yield of 14.14%, if continued at their most recent quarterly rate. When assessing yields of this magnitude, normally the problem stems from the risks posed by excessive leverage but in this situation, oddly their one problem is actually not enough leverage, especially given the way they pursue necessary acquisitions. Executive Summary & Ratings Since many readers are likely short on time, the table below provides a very brief executive summary and ratings for the primary criteria that were assessed. This Google Document provides a list of all my equivalent ratings as well as more information regarding my rating system. The following section provides a detailed analysis for those readers who are wishing to dig deeper into their situation. Author *Instead of simply assessing distribution coverage through distributable cash flow, I prefer to utilize free cash flow since it provides the toughest criteria and also best captures the true impact upon their financial position. Detailed Analysis Author Since their entire partnership centers around oil and gas mineral rights, it was no surprise to see their cash flow performance scale up and down with oil and gas prices. Thanks to the booming operating conditions during the first half of 2022, it lifted their operating cash flow to $67.4m and thus almost matched their full-year result of $70.3m during 2021, despite being merely half the length of time. Similar to other mineral rights partnerships, they do not incur any capital expenditure and thus as a result, the entirety of their operating cash flow is translated into free cash flow and passed along to their unitholders via variable distributions. Notwithstanding the occasional lag between free cash flow and timing of the attributable distribution payments if oil and gas prices change rapidly quarter-to-quarter, as observed during 2020 and the first half of 2022. Even though this appears to create a very desirable backdrop for income investors, given the inherent and unavoidable depletion of their assets through production, it is still necessary to acquire new mineral rights to offset production, if not preferably, grow larger across time and thus create value for their unitholders. Interestingly, unlike virtually every other partnership, even those holding mineral rights, they do not fund their routine acquisitions via cash but rather by issuing common equity and thus as a result, their outstanding unit count climbed from 34,679,774 at the start of 2021 to reach 37,554,774 following the second quarter of 2022. There is no sign of this changing with their latest acquisition as recently as last month seeing another 816,719 common units issued, thereby boosting their outstanding unit count another 2.17% higher. Even though this may not sound significant, there are still nevertheless important consequences of this strategy, as subsequently discussed. Author When reviewing their capital structure, it becomes apparent they never carry any debt, as alluded to earlier given their preference for funding new mineral rights acquisitions by issuing common equity instead of debt. Meanwhile, they have also refrained from issuing any hybrid securities, such as preferred units and so forth, thereby leaving them entirely capitalized via common equity, which is quite rare, especially for a partnership structure. Due to their lack of debt, they have zero leverage and thus obviously making it not only pointless but also impossible to assess. Whilst the lack of debt may sound positive, the story does not stop here because there are other far more important implications to consider, which in my view, degrade the appeal of their units. Even though less debt equals less risks, the benefit obviously diminishes the lower it goes because put simply, making an investment safer that is already safe does not help investors and thus it does not create any meaningful value for unitholders. If anything, their sole use of issuing common equity is actually likely doing more harm than good, in my view. It should be remembered that common equity is the most expensive source of capital and whilst yes, it does not force mandatory interest payments like debt, nothing is free in this world. In effect, its cost is their distribution yield, which averaged circa 10% during the last four years or phrased another way, it could be said their distribution yield is essentially an interest rate, given the income-focused nature of their partnership. It should be remembered that value is not created for unitholders by growing their partnership bigger in absolute terms but rather, growing larger on a per-unit basis by undertaking investments in excess of their cost of capital. To create value for their unitholders without the use of debt, the new assets have to produce a return sufficient to not only fund a very high circa 10% distribution yield on the accompanying new common units but also leave cash in excess to grow distributions on a per unit basis. This same principle applies to the use of debt, although since debt carries a relatively lower expense, likely around the mid-single digit level, it leaves more excess cash to grow their distributions on a per unit basis, thereby creating value for unitholders versus merely growing their partnership bigger. To make matters worse, some of their acquisitions are obviously to offset the depletion of existing assets and thus not every unit issued to fund an acquisition even leads to growth in absolute terms. In my view, they could safely afford to carry at least $100m of net debt, thereby giving a net debt-to-operating cash flow of only 1.43 if utilizing their far lower operating cash flow during 2021, which is a conservative assumption. Given their cash balance of $43m, this would see upwards of $150m of debt issued to acquire assets, which could make a very large difference given their existing portfolio of oil and gas properties cost $453.8m before accumulated depletion, as per their latest balance sheet.

Seeking Alpha • Aug 04

Dorchester Minerals Q2 GAAP EPS, revenue more than doubles Y/Y

Dorchester Minerals press release (NASDAQ:DMLP): Q2 GAAP EPS of $0.96 (vs. $0.46 Y/Y). Revenue of $47.45M (+122.1% Y/Y).

Seeking Alpha • Jul 21

Dorchester Minerals increases quarterly dividend by 28.5%

Dorchester Minerals (NASDAQ:DMLP) declares $0.969/share quarterly dividend, 28.5% increase from prior dividend of $0.754. Forward yield 14.63% Payable Aug. 11; for shareholders of record Aug. 1; ex-div July 29. See DMLP Dividend Scorecard, Yield Chart, & Dividend Growth.

Seeking Alpha • May 23

Ultimate Inflation Protection 10% Yield: Dorchester Minerals

We bring to you a pure royalty investment that Warren Buffett would approve of. Global dependence on hydrocarbons is growing, and prices will remain elevated for 12-18 months. Mineral royalties will let you sit back and collect fees from soaring commodity prices, ~10% yields.

Seeking Alpha • Apr 20

Dorchester Minerals: Quarterly Distribution May Exceed $1

Dorchester appears capable of generating a quarterly distribution of $1+ at near-term oil and gas prices of $100+ and $7+ respectively. It also should be able to generate modest (1% per quarter) organic production growth. Dorchester has been active with acquisitions, which should add a bit of additional production growth as well. It seems to be roughly fairly priced for a long-term $75 WTI oil environment.

Seeking Alpha • Feb 09

Dorchester Minerals: Distribution Could Exceed $0.70 In Future Quarters

Dorchester's distribution ended up at $0.639287 per unit for Q4 2021. It should be able to support a $0.70+ quarterly distribution with mid-$80s oil. A change in oil prices of $10 to $11 would affect Dorchester's estimated quarterly distribution by approximately $0.10. Dorchester's current unit price appears reasonable for my longer-term oil pricing expectations.

Seeking Alpha • Nov 26

Dorchester Minerals: Timing Of Receipts Appears To Have Reduced The Q3 2021 Distribution

Dorchester's acquisition adds 4,600 net royalty acres in various areas including the Permian Basin, the Eagle Ford and the Powder River Basin. Common unit count increases to around 37 million. Q3 2021 distribution was a bit lower than I expected, largely due to the timing of payment receipts reflecting periods of lower oil prices. Value-weighted production appears to have increased slightly compared to Q2 2021. Thus a $0.60+ per unit distribution still appears reasonable to expect at current oil and gas prices.

Seeking Alpha • Sep 24

Dorchester Minerals: Quarterly Distribution Could Be Around $0.60 Per Unit In Next Few Quarters

Dorchester's Q2 2021 distribution was $0.48 per unit. At current strip prices, its quarterly distribution may average around $0.60 per unit during the rest of 2021 and 2022. This assumes limited production growth. More production growth could increase its distributable cash flow, although that assumes that commodity prices are driven down from current strip levels.

Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	3/6

Historical stock prices
Current Share Price	US$26.08
52 Week High	US$28.95
52 Week Low	US$20.85
Beta	0.54
1 Month Change	-7.12%
3 Month Change	6.32%
1 Year Change	-6.02%
3 Year Change	-8.81%
5 Year Change	77.66%
Change since IPO	63.00%

	DMLP	US Oil and Gas	US Market
7D	-6.8%	-5.1%	2.1%
1Y	-6.0%	29.2%	30.6%

DMLP volatility
DMLP Average Weekly Movement	3.1%
Oil and Gas Industry Average Movement	6.0%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	3.2%

DMLP fundamental statistics
Market cap	US$1.26b
Earnings (TTM)	US$66.50m
Revenue (TTM)	US$162.71m

DMLP income statement (TTM)
Revenue	US$162.71m
Cost of Revenue	US$10.14m
Gross Profit	US$152.57m
Other Expenses	US$86.07m
Earnings	US$66.50m

Earnings per share (EPS)	1.38
Gross Margin	93.77%
Net Profit Margin	40.87%
Debt/Equity Ratio	0%

Dorchester Minerals dividend dates
Ex Dividend Date	May 04 2026
Dividend Pay Date	May 14 2026
Days until Ex dividend	7 days
Days until Dividend pay date	3 days

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 16:39
End of Day Share Price	2026/05/07 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Dorchester Minerals (DMLP) Stock Overview

Rewards

Risk Analysis

Dorchester Minerals, L.P. Competitors

Diversified Energy

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Sabine Royalty Trust

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Price History & Performance

Recent News & Updates

First quarter 2026 earnings released: EPS: US$0.59 (vs US$0.36 in 1Q 2025)

Fourth quarter dividend reduced to US$0.48

Dorchester Minerals, L.P. Announces Distribution for the First Quarter Ended March 31, 2026 , Payable on May 14, 2026

Dorchester Minerals: Still A Buy, But Beware Of Iran-Driven Risks

Dorchester Minerals, L.P., Annual General Meeting, May 13, 2026

Dorchester Minerals, L.P. Enters Settlement Agreement

Recent updates

First quarter 2026 earnings released: EPS: US$0.59 (vs US$0.36 in 1Q 2025)

Fourth quarter dividend reduced to US$0.48

Dorchester Minerals, L.P. Announces Distribution for the First Quarter Ended March 31, 2026 , Payable on May 14, 2026

Dorchester Minerals: Still A Buy, But Beware Of Iran-Driven Risks

Dorchester Minerals, L.P., Annual General Meeting, May 13, 2026

Dorchester Minerals, L.P. Enters Settlement Agreement

Full year 2025 earnings released: EPS: US$1.16 (vs US$2.13 in FY 2024)

Dorchester Minerals, L.P. Appoints A. Troy Sturrock as an Independent Manager and Member of the Advisory Committee, Effective February 11, 2026

High number of new directors

Third quarter dividend of US$0.76 announced

Dorchester Minerals, L.P. Announces Distribution for the Fourth Quarter Ended December 31, 2025, Payable on February 12, 2026

Dorchester Minerals, L.P. Announces Board Changes

Dorchester Minerals, L.P. Announces Notice of Advisory Committee Member Passing and Resulting Nasdaq Non-Compliance

Third quarter 2025 earnings released: EPS: US$0.23 (vs US$0.88 in 3Q 2024)

Dorchester Minerals, L.P. Announces the Board and Committee Changes

Second quarter dividend of US$0.69 announced

Dorchester Minerals, L.P. Announces Cash Distribution for the Third Quarter Ended September 30, 2025, Payable on November 13, 2025

Second quarter 2025 earnings released: EPS: US$0.25 (vs US$0.57 in 2Q 2024)

First quarter dividend of US$0.62 announced

Dorchester Minerals, L.P. Announces Its Second Quarter Distribution, Payable on August 14, 2025

Dorchester Minerals, L.P. Announces Committee Appointments

First quarter 2025 earnings released: EPS: US$0.36 (vs US$0.44 in 1Q 2024)

Fourth quarter dividend reduced to US$0.73

Dorchester Minerals, L.P. Announces Cash Distribution for the First Quarter Ended March 31, 2025, Payable on May 15, 2025

Dorchester Minerals: Solid Business Model And Balance Sheet To Sustain Cash Distributions

Dorchester Minerals, L.P. Announces the Retirement of Ronald P. Trout from the Board of Dorchester Minerals Management GP LLC

Dorchester Minerals, L.P., Annual General Meeting, May 14, 2025

Dorchester Minerals: Quarterly Distribution May Average $0.80 During 2025

Full year 2024 earnings released: EPS: US$2.13 (vs US$2.85 in FY 2023)

Third quarter dividend of US$0.74 announced

Dorchester Minerals, L.P. Announces Distribution for the Three-Month Period Ended December 31, 2024, Payable on February 13, 2025

Dorchester Minerals: Q3 2024 Distribution Was A Positive Surprise

Chief Executive Officer recently bought US$497k worth of stock

New minor risk - Shareholder dilution

Third quarter 2024 earnings released: EPS: US$0.88 (vs US$0.73 in 3Q 2023)

Second quarter dividend of US$1.00 announced

Dorchester Minerals, L.P. Announces Third Quarter 2024 Cash Distribution, Payable on November 7, 2024

Dorchester Minerals, L.P. Announces Appointment of F. Damon Box as Manager to Board of Managers

Dorchester Minerals: Acquisitions Should Boost Near-Term Distributable Cash Flow

Dorchester Minerals, L.P. (NasdaqGS:DMLP) agreed to acquire 14,529 net royalty acres located in New Mexico and Texas from a group of shareholders for $200.63 million.

Dorchester Minerals: Units Become More Attractive In A Lower Interest Rate Environment

Dorchester Minerals LP: 9% Yield Vs. Energy Royalty Peers

Second quarter 2024 earnings released: EPS: US$0.57 (vs US$0.50 in 2Q 2023)

First quarter dividend of US$0.70 announced

Dorchester Minerals, L.P. Announces Cash Distribution for the Second Quarter Ended June 30, 2024, Payable on August 8, 2024

Dorchester Minerals: Acquisitions Provide A Temporary Boost To Its Distributions

First quarter 2024 earnings released: EPS: US$0.44 (vs US$0.71 in 1Q 2023)

Fourth quarter dividend reduced to US$0.78

Dorchester Minerals, L.P. Announces Cash Distribution for the First Quarter Ended March 31, 2024, Payable on May 9, 2024

Dorchester Minerals: Forward Yield Is Estimated At 10%

Dorchester Minerals, L.P., Annual General Meeting, May 15, 2024

Full year 2023 earnings released: EPS: US$2.85 (vs US$3.35 in FY 2022)

Dorchester Minerals: Royalty Trust, 13% Yield

Dorchester Minerals, L.P. Announces Cash Distribution for the Fourth Quarter Ended December 31, 2023, Payable on February 8, 2024

Dorchester Minerals, L.P. Announces Retirement of James E. Raley

Chief Financial Officer recently bought US$225k worth of stock

New minor risk - Shareholder dilution

Third quarter 2023 earnings released: EPS: US$0.73 (vs US$0.88 in 3Q 2022)

Dorchester Minerals, L.P. (NasdaqGS:DMLP) acquired Mineral and Royalty Interests in Texas

Dorchester Minerals, L.P., Annual General Meeting, Oct 04, 2023

Second quarter 2023 earnings released: EPS: US$0.50 (vs US$0.96 in 2Q 2022)

Dorchester Minerals, L.P. Announces Cash Distribution for the Three-Month Period Ended June 30, 2023, Payable on August 10, 2023

First quarter 2023 earnings released: EPS: US$0.71 (vs US$0.80 in 1Q 2022)