{"id":395790,"date":"2020-12-08T15:48:05","date_gmt":"2020-12-08T20:48:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395790"},"modified":"2020-12-08T15:48:05","modified_gmt":"2020-12-08T20:48:05","slug":"amen-properties-reports-results-for-third-quarter-of-2020-and-announces-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amen-properties-reports-results-for-third-quarter-of-2020-and-announces-dividend\/","title":{"rendered":"Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend"},"content":{"rendered":"

<\/p>\n

Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend<\/b><\/p>\n

DALLAS–(BUSINESS WIRE<\/a>)–
\nAmen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its fiscal quarter ended September 30, 2020. The Company posted quarterly revenue of $301 thousand and a net profit of $98 thousand. These results compare to revenue of $530 thousand and a net loss of $(436) thousand for the same quarter last year. The Company\u2019s decline in revenue for the quarter was driven by decreases in oil and gas production and commodity prices. The increase in profitability was caused primarily by tax refunds realized from the correction of tax returns for 2017-19.\n<\/p>\n

\nAmen announced that the Company\u2019s Board of Directors has approved the payment of a quarterly dividend of $7.50 per share, to be paid on December 30, 2020 to shareholders of record as of the close of business on December 23, 2020.\n<\/p>\n

\nFinally, Amen reiterated that its Board has approved a plan whereby the Company will no longer hedge the revenue stream associated with its oil and gas royalties. \u201cShareholders of Amen need to understand that they hold an un-hedged long oil and gas position and should pursue their own hedging strategy if they are uncomfortable with that risk,\u201d said Kris Oliver, Amen\u2019s Chief Financial Officer.\n<\/p>\n

\nThe Company\u2019s 2020 third quarter report is available for viewing or download from the company\u2019s web site \u2013 www.amenproperties.com<\/a>.\n<\/p>\n

About Amen Properties:<\/b><\/p>\n

\nAmen Properties owns a portfolio of properties including real estate and oil and gas interests.\n<\/p>\n

Cautionary Statement:
\n
This document contains forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Forward-looking statements can be identified by use of the words “expect,” “project,” “may,” “might,” potential,” and similar terms. AMEN Properties, Inc. (“Amen,” “we” or the “Company”) cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Amen’s control. These factors include, but are not limited to, our ability to implement our strategic initiatives, economic, political and market conditions and price fluctuations, government and industry regulation, U.S. and global competition and other factors. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.<\/i><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201208006091\/en\/<\/a><\/span><\/p>\n

Press and Investor Relations Contact:
\n<\/strong>
Kris Oliver
\n
(972) 999-0494\n<\/p>\n

KEYWORDS:<\/b> United States North America Texas<\/p>\n

INDUSTRY KEYWORDS:<\/b> REIT Oil\/Gas Energy Construction & Property Other Energy<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend DALLAS–(BUSINESS WIRE)– Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its fiscal quarter ended September 30, 2020. The Company posted quarterly revenue of $301 thousand and a net profit of $98 thousand. These results compare to revenue of $530 thousand and a net loss of $(436) thousand for the same quarter last year. The Company\u2019s decline in revenue for the quarter was driven by decreases in oil and gas production and commodity prices. The increase in profitability was caused primarily by tax refunds realized from the correction of tax returns for 2017-19. Amen announced that the Company\u2019s Board of Directors has approved the payment of … <\/p>\n

Continue reading “Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-395790","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAmen Properties Reports Results for Third Quarter of 2020 and Announces Dividend - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/amen-properties-reports-results-for-third-quarter-of-2020-and-announces-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Amen Properties Reports Results for Third Quarter of 2020 and Announces Dividend DALLAS–(BUSINESS WIRE)– Amen Properties, Inc. 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