Black Stone Minerals LP (BSM) will this time increase its distribution by 87.5 percent to 15 cents per share in Q3 of 2020 following a double cut earlier this year. The company cut its quarterly distribution by 73.3 percent to $0.08 per unit in the second quarter of 2020. Earlier this year the owner of oil and natural gas mineral interests in the United States had already cut its distribution by 18.9 percent.

The next distribution will be payable on August 21, 2020 to unitholders of record on August 14, 2020. A new annual distribution rate of 60 cents per unit yields 8.7% at a price of $6.91.

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in 41 states and 64 onshore basins in the continental United States. The Partnership also owns and selectively participates as a nonoperating working interest partner in established development programs, primarily on its mineral and royalty holdings.