1. BP Prudhoe Bay Royalty Trust (BPT) holds royalty interests in an Alaskan oil field.
Quarter: Fourth-quarter profit increased 5.7% to $66 million, or $3.11, as revenue dropped 41% to $37 million. The trust holds $32 million of cash and no debt. It distributes royalties on 16% of the first 90,000 barrels of daily net production at the Prudhoe Bay field. Based on proven reserves, the trust expects to pay dividends until 2024.
Performance: BP Prudhoe Bay Royalty Trust returned 107% in the past year, outpacing benchmarks. Despite a minimal Wall Street following, the trust has proven to be a lucrative dividend vehicle. It returned 21% annually, on average, during the past five years. Its dividend payments fluctuate in size. If the trust is able to maintain its latest $3.61 quarterly payout, it yields 15.4%.
-- Reported by Jake Lynch in Boston.
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