Business
Amen Properties Reports Results for Second Quarter of 2014 and Announces Quarterly Dividend
Amen Properties Reports Results for Second Quarter of 2014 and Announces Quarterly Dividend.
About this update from Amen Properties, Inc.
[{"type":"text","content":"\n \n Amen Properties, Inc. (OTC Pink: AMEN) today announced financial results \n for its fiscal quarter ended June 30, 2014. The Company posted quarterly \n revenue of $821 thousand and a net profit of $491 thousand, or $9.56 per \n diluted share. These results compare to revenue of $683 thousand and net \n income of $319 thousand, or $6.22 per diluted share, for the same \n quarter last year. The increase in profitability from last year was \n caused primarily by changes in commodity prices for oil and gas.\n \n \n Amen also announced that the Company’s Board of Directors has approved \n the payment of a quarterly dividend of $13 per share to the Company’s \n common shareholders. The dividend will be paid on September 30, 2014 to \n shareholders of record as of September 23, 2014.\n \n \n Finally, Amen reiterated that its Board has approved a plan whereby the \n Company will no longer hedge the revenue stream associated with its oil \n and gas royalties. “Shareholders of Amen need to understand that they \n hold an un-hedged long oil and gas position and should pursue their own \n hedging strategy if they are uncomfortable with that risk,” said Kris \n Oliver, Amen’s Chief Executive Officer.\n \n \n The Company’s 2014 second quarter report is available for viewing or \n download from the company’s web site – www.amenproperties.com.\n \n \n About Amen Properties:\n \n \n Amen Properties owns a portfolio of cash-producing properties including \n real estate and oil and gas interests.\n \n \n Cautionary Statement:\n \n \n This document contains forward-looking statements, which involve a \n number of risks and uncertainties that could cause our actual results to \n differ materially from those reflected in the forward-looking \n statements. Forward-looking statements can be identified by use of the \n words \"expect,\" \"project,\" \"may,\" \"might,\" potential,\" and similar \n terms. AMEN Properties, Inc. (\"Amen\", \"we\" or the \"Company\") cautions \n readers that any forward-looking information is not a guarantee of \n future performance and that actual results could differ materially from \n those contained in the forward-looking information. Forward-looking \n statements involve a number of risks, uncertainties or other factors \n beyond Amen's control. These factors include...