Announcement • 17h
Cross Timbers Royalty Trust Declares July Cash Distribution, Payable on August 14, 2026 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.061397 per unit for July 2026, payable on August 14, 2026, to unitholders of record on July 31, 2026. Declared Dividend • Jun 21
Dividend of US$0.044 announced Shareholders will receive a dividend of US$0.044. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 5.9%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 3.8% over the last 5 years so the company would need to reverse this trend. Announcement • Jun 19
Cross Timbers Royalty Trust Declares June Cash Distribution, Payable on July 15, 2026 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.044186 per unit, payable on July 15, 2026, to unitholders of record on June 30, 2026. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$8.93, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 49% over the past three years. Declared Dividend • May 20
Dividend of US$0.03 announced Shareholders will receive a dividend of US$0.03. Ex-date: 29th May 2026 Payment date: 12th June 2026 Dividend yield will be 4.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 55% to bring the payout ratio under control. However, EPS has declined by 3.8% over the last 5 years so the company would need to reverse this trend. Announcement • May 19
Cross Timbers Royalty Trust Declares Cash Distribution, Payable on June 12, 2026 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.029624 per unit, payable on June 12, 2026, to unitholders of record on May 29, 2026. New Risk • May 17
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: US$4.5m This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (US$4.5m revenue). Market cap is less than US$100m (US$64.6m market cap). Declared Dividend • Apr 22
Dividend increased to US$0.07 Dividend of US$0.07 is 117% higher than last year. Ex-date: 30th April 2026 Payment date: 14th May 2026 Dividend yield will be 5.2%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Apr 21
Cross Timbers Royalty Trust Declares Cash Distribution, Payable on May 14, 2026 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.069720 per unit, payable on May 14, 2026, to unitholders of record on April 30, 2026. New Risk • Mar 30
New major risk - Revenue and earnings growth Earnings have declined by 0.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (US$63.8m market cap). Declared Dividend • Mar 23
Dividend of US$0.00092 announced Shareholders will receive a dividend of US$0.00092. Ex-date: 31st March 2026 Payment date: 14th April 2026 Dividend yield will be 5.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.8% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 20
Cross Timbers Royalty Trust Declares March Cash Distribution, Payable on April 14, 2026 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.000923 per unit for March, payable on April 14, 2026, to unitholders of record on March 31, 2026. Declared Dividend • Feb 19
Dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 27th February 2026 Payment date: 13th March 2026 Dividend yield will be 7.7%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.8% over the last 5 years so the company would need to reverse this trend. Announcement • Feb 17
Cross Timbers Royalty Trust Declares February Cash Distribution, Payable on March 13, 2026 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.050060 per unit, payable on March 13, 2026, to unitholders of record on February 27, 2026. Declared Dividend • Jan 22
Dividend of US$0.033 announced Shareholders will receive a dividend of US$0.033. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 8.0%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.8% over the last 5 years so the company would need to reverse this trend. Announcement • Jan 20
Cross Timbers Royalty Trust Declares January Cash Distribution, Payable on February 13, 2026 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.032918 per unit, payable on February 13, 2026, to unitholders of record on January 30, 2026. Declared Dividend • Dec 24
Dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 9.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.8% over the last 5 years so the company would need to reverse this trend. Announcement • Dec 19
Cross Timbers Royalty Trust Declares December Cash Distribution, Payable on January 15, 2026 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared December cash distribution to the holders of its units of beneficial interest of $0.114705 per unit, payable on January 15, 2026, to unitholders of record on December 31, 2025. Declared Dividend • Nov 19
Dividend of US$0.037 announced Shareholders will receive a dividend of US$0.037. Ex-date: 28th November 2025 Payment date: 12th December 2025 Dividend yield will be 7.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.8% over the last 5 years so the company would need to reverse this trend. Announcement • Nov 17
Cross Timbers Royalty Trust Declares November 2025 Cash Distribution, Payable on December 12, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared November 2025 a cash distribution to the holders of its units of beneficial interest of $0.036930 per unit, payable on December 12, 2025, to unitholders of record on November 28, 2025. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$8.80, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 14x in the Oil and Gas industry in the US. Total loss to shareholders of 51% over the past three years. Declared Dividend • Oct 23
Dividend of US$0.075 announced Shareholders will receive a dividend of US$0.075. Ex-date: 31st October 2025 Payment date: 17th November 2025 Dividend yield will be 9.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Oct 22
Cross Timbers Royalty Trust Declares October Cash Distribution, Payable on November 17, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.075205 per unit, payable on November 17, 2025, to unitholders of record on October 31, 2025. Declared Dividend • Sep 22
Dividend of US$0.032 announced Shareholders will receive a dividend of US$0.032. Ex-date: 30th September 2025 Payment date: 15th October 2025 Dividend yield will be 9.7%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Sep 19
Cross Timbers Royalty Trust Declares September Cash Distribution, Payable on October 15, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.031753 per unit, payable on October 15, 2025, to unitholders of record on September 30, 2025. Declared Dividend • Aug 21
Dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 9.3%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Aug 20
Cross Timbers Royalty Trust Declares August Cash Distribution, Payable on September 15, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.013424 per unit, payable on September 15, 2025, to unitholders of record on August 29, 2025. Declared Dividend • Jul 23
Dividend of US$0.03 announced Shareholders will receive a dividend of US$0.03. Ex-date: 31st July 2025 Payment date: 14th August 2025 Dividend yield will be 8.9%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Jul 21
Cross Timbers Royalty Trust Declares July Cash Distribution, Payable on August 14, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.030376 per unit, payable on August 14, 2025, to unitholders of record on July 31, 2025. Declared Dividend • Jun 23
Dividend of US$0.036 announced Shareholders will receive a dividend of US$0.036. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 9.4%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • Jun 20
Cross Timbers Royalty Trust Declares June Cash Distribution, Payable on July 15, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared June cash distribution to the holders of its units of beneficial interest of $0.035849 per unit, payable on July 15, 2025, to unitholders of record on June 30, 2025. Declared Dividend • May 21
Dividend of US$0.081 announced Shareholders will receive a dividend of US$0.081. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 8.7%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 5.7% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Announcement • May 20
Cross Timbers Royalty Trust Declares Cash Distribution for the Month of May 2025, Payable on June 13, 2025 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.080799 per unit, payable on June 13, 2025, to unitholders of record on May 30, 2025. Declared Dividend • Apr 21
Dividend of US$0.032 announced Shareholders will receive a dividend of US$0.032. Ex-date: 30th April 2025 Payment date: 14th May 2025 Dividend yield will be 8.6%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.6% EPS growth achieved over the last 5 years. Announcement • Apr 17
Cross Timbers Royalty Trust Declares Cash Distribution for April 2025, Payable on May 14, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.032110 per unit, payable on May 14, 2025, to unitholders of record on April 30, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$10.85, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 8.3% over the past three years. Declared Dividend • Mar 24
Dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 31st March 2025 Payment date: 14th April 2025 Dividend yield will be 8.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.0% EPS growth achieved over the last 5 years. Announcement • Mar 21
Cross Timbers Royalty Trust Declares Cash Distribution for March 2025, Payable on April 14, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") declared a cash distribution to the holders of its units of beneficial interest of $0.156725 per unit, payable on April 14, 2025, to unitholders of record on March 31, 2025. Declared Dividend • Feb 20
Dividend of US$0.046 announced Shareholders will receive a dividend of US$0.046. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 7.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.0% EPS growth achieved over the last 5 years. Announcement • Feb 19
Cross Timbers Royalty Trust Declares Cash Distribution for February 2025, Payable on March 14, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.045553 per unit for February 2025, payable on March 14, 2025, to unitholders of record on February 28, 2025. Declared Dividend • Jan 23
Dividend of US$0.095 announced Shareholders will receive a dividend of US$0.095. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 8.3%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.0% EPS growth achieved over the last 5 years. Announcement • Jan 22
Cross Timbers Royalty Trust Declares Cash Distribution, Payable on February 14, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.095045 per unit, payable on February 14, 2025, to unitholders of record on January 31, 2025. Declared Dividend • Dec 23
Dividend of US$0.062 announced Shareholders will receive a dividend of US$0.062. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 9.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.0% EPS growth achieved over the last 5 years. Announcement • Dec 20
Cross Timbers Royalty Trust Declares December Cash Distribution, Payable on January 15, 2025 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a December cash distribution to the holders of its units of beneficial interest of $0.062265 per unit, payable on January 15, 2025, to unitholders of record on December 31, 2024. Declared Dividend • Nov 20
Dividend of US$0.093 announced Shareholders will receive a dividend of US$0.093. Ex-date: 29th November 2024 Payment date: 13th December 2024 Dividend yield will be 9.9%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 89% to bring the payout ratio under control, which is more than the 2.0% EPS growth achieved over the last 5 years. Announcement • Nov 19
Cross Timbers Royalty Trust Declares November Cash Distribution, Payable on December 13, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") declared a cash distribution to the holders of its units of beneficial interest of $0.092742 per unit, payable on December 13, 2024, to unitholders of record on November 29, 2024. Declared Dividend • Oct 23
Dividend of US$0.065 announced Shareholders will receive a dividend of US$0.065. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 9.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.5% EPS growth achieved over the last 5 years. Announcement • Oct 22
Cross Timbers Royalty Trust Declares October Cash Distribution, Payable on November 15, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the Trust) declared a cash distribution to the holders of its units of beneficial interest of $0.064592 per unit, payable on November 15, 2024, to unitholders of record on October 31, 2024. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$10.90, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 10x in the Oil and Gas industry in the US. Total loss to shareholders of 5.2% over the past three years. Declared Dividend • Sep 23
Dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 12%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.5% EPS growth achieved over the last 5 years. Announcement • Sep 21
Cross Timbers Royalty Trust Declares September Cash Distribution, Payable on October 15, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared September cash distribution to the holders of its units of beneficial interest of $0.102230 per unit, payable on October 15, 2024, to unitholders of record on September 30, 2024. Declared Dividend • Aug 22
Dividend of US$0.055 announced Shareholders will receive a dividend of US$0.055. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 11%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.5% EPS growth achieved over the last 5 years. Announcement • Aug 21
Cross Timbers Royalty Trust Declares August Cash Distribution, Payable on September 16, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of $0.055175 per unit, payable on September 16, 2024, to unitholders of record on August 30, 2024. Declared Dividend • Jul 22
Dividend of US$0.096 announced Shareholders will receive a dividend of US$0.096. Ex-date: 31st July 2024 Payment date: 14th August 2024 Dividend yield will be 12%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 4.3% EPS growth achieved over the last 5 years. Announcement • Jul 20
Cross Timbers Royalty Trust Declares July Cash Distribution, Payable on August 14, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.096137 per unit, payable on August 14, 2024, to unitholders of record on July 31, 2024. Declared Dividend • Jun 19
Dividend of US$0.03 announced Shareholders will receive a dividend of US$0.03. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 11%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 4.3% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$11.39, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 32% over the past three years. Announcement • Jun 18
Cross Timbers Royalty Trust Declares May Cash Distribution, Payable on July 15, 2024 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.030174 per unit, payable on July 15, 2024, to unitholders of record on June 28, 2024. Announcement • May 23
Cross Timbers Royalty Trust Declares May Cash Distribution, Payable on June 14, 2024 Cross Timbers Royalty Trust declared May cash distribution to the holders of its units of beneficial interest of $0.058252 per unit, payable on June 14, 2024, to unitholders of record on May 31, 2024. Declared Dividend • May 22
Dividend of US$0.058 announced Shareholders will receive a dividend of US$0.058. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 9.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 36% to bring the payout ratio under control, which is more than the 4.3% EPS growth achieved over the last 5 years. Upcoming Dividend • Apr 25
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 14 May 2024. Trailing yield: 12%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.9%). Declared Dividend • Apr 22
Dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 29th April 2024 Payment date: 14th May 2024 Dividend yield will be 10%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 6.2% EPS growth achieved over the last 5 years. Announcement • Apr 20
Cross Timbers Royalty Trust Declares April Cash Distribution, Payable on May 14, 2024 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.135867 per unit, payable on May 14, 2024, to unitholders of record on April 30, 2024. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to US$13.03, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 9x in the Oil and Gas industry in the US. Total returns to shareholders of 97% over the past three years. Declared Dividend • Mar 20
Dividend of US$0.019 announced Shareholders will receive a dividend of US$0.019. Ex-date: 27th March 2024 Payment date: 12th April 2024 Dividend yield will be 12%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 8.3% EPS growth achieved over the last 5 years. New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.6m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (US$99.6m market cap). Declared Dividend • Feb 22
Dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 28th February 2024 Payment date: 14th March 2024 Dividend yield will be 10%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 8.3% EPS growth achieved over the last 5 years. Announcement • Feb 16
Cross Timbers Royalty Trust Declares February Cash Distribution, Payable on March 14, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the Trust) declared February cash distribution to the holders of its units of beneficial interest of $0.114156 per unit, payable on March 14, 2024, to unitholders of record on February 29, 2024. Upcoming Dividend • Jan 23
Upcoming dividend of US$0.12 per share at 11% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 14 February 2024. Trailing yield: 11%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.6%). Announcement • Jan 19
Cross Timbers Royalty Trust Declares January Cash Distribution, Payable on February 14, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the Trust) declared a January cash distribution to the holders of its units of beneficial interest of $0.115323 per unit, payable on February 14, 2024, to unitholders of record on January 31, 2024. Upcoming Dividend • Dec 22
Upcoming dividend of US$0.14 per share at 11% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 16 January 2024. Trailing yield: 11%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (4.4%). Announcement • Dec 19
Cross Timbers Royalty Trust Declares Cash Distribution, Payable on January 16, 2024 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the Trust) declared a cash distribution to the holders of its units of beneficial interest of $0.142897 per unit, payable on January 16, 2024, to unitholders of record on December 29, 2023. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.15 per share at 11% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 14 December 2023. Trailing yield: 11%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (4.5%). Announcement • Nov 18
Cross Timbers Royalty Trust Declares Cash Distribution for November 2023, Payable on December 14, 2023 Cross Timbers Royalty Trust declared a cash distribution for November 2023 to the holders of its units of beneficial interest of $0.149994 per unit, payable on December 14, 2023, to unitholders of record on November 30, 2023. Upcoming Dividend • Oct 23
Upcoming dividend of US$0.11 per share at 12% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 14 November 2023. Trailing yield: 12%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.2%). Announcement • Oct 21
Cross Timbers Royalty Trust Declares Cash Distribution for October 2023, Payable on November 14, 2023 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution for October 2023 to the holders of its units of beneficial interest of $0.109923 per unit, payable on November 14, 2023, to unitholders of record on October 31, 2023. Announcement • Sep 20
Cross Timbers Royalty Trust Declares September Cash Distribution, Payable on October 16, 2023 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.090731 per unit, payable on October 16, 2023, to unitholders of record on September 29, 2023. Announcement • Aug 22
Cross Timbers Royalty Trust Declares August Cash Distribution, Payable on September 15, 2023 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.124242 per unit, payable on September 15, 2023, to unitholders of record on August 31, 2023. Buying Opportunity • Jul 28
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$25.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 37%. Announcement • Jul 23
Cross Timbers Royalty Trust Declares Cash Distribution, Payable on August 14, 2023 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.193559 per unit, payable on August 14, 2023, to unitholders of record on July 31, 2023. Buying Opportunity • Jul 10
Now 21% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be US$25.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 37%. Announcement • Jun 21
Cross Timbers Royalty Trust Declares Cash Dividend, Payable on July 17, 2023 Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.077040 per unit, payable on July 17, 2023, to unitholders of record on June 30, 2023. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$21.20, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 5x in the Oil and Gas industry in the US. Total returns to shareholders of 299% over the past three years. Buying Opportunity • Jun 21
Now 24% undervalued Over the last 90 days, the stock is up 28%. The fair value is estimated to be US$27.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 37%. Buying Opportunity • May 26
Now 21% undervalued Over the last 90 days, the stock is up 4.4%. The fair value is estimated to be US$26.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 37%. Upcoming Dividend • May 23
Upcoming dividend of US$0.19 per share at 10% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 14 June 2023. Trailing yield: 10%. Within top quartile of American dividend payers (5.1%). Higher than average of industry peers (4.8%). Announcement • May 20
Cross Timbers Royalty Trust Declares May Cash Distribution, Payable on June 14, 2023 Cross Timbers Royalty Trust declared a May cash distribution to the holders of its units of beneficial interest of $0.185059 per unit, payable on June 14, 2023, to unitholders of record on May 31, 2023. Buying Opportunity • Apr 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be US$26.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 30%. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$24.00, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 396% over the past three years. Buying Opportunity • Apr 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be US$25.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 30%. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to US$16.56, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 326% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$15.87, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 6x in the Oil and Gas industry in the US. Total returns to shareholders of 308% over the past three years. Buying Opportunity • Feb 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be US$24.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 21%. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$24.25, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 7x in the Oil and Gas industry in the US. Total returns to shareholders of 305% over the past three years. Announcement • Feb 18
Cross Timbers Royalty Trust Declares February Cash Distribution, Payable on March 14, 2023 Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.114609 per unit, payable on March 14, 2023, to unitholders of record on February 28, 2023. 
