MILLS MUSIC TRUST reported Q1 2026 cash receipts of $424.16K (March 2026 Q4 payment) and distributed $1.2434 per unit on March 26, 2026; the trust held no cash at quarter end and had $35536 of unpaid administrative expenses.
Financial Highlights
- Revenue: $424.16K in Q1 2026 (March 2026 Q4 payment), versus $260.76K contingent portion in the year-ago quarter; trust receipts fluctuate with royalties.
- Net income: Not reported; the trust presents cash receipts and disbursements. Distributions to unit holders were $345,295 in Q1 2026.
- Diluted EPS: Not applicable / not reported. Distribution per trust unit was $1.2434 for the March 26, 2026 distribution.
Business Highlights
- Contingent revenue dependence: Receipts derive from EMI remittances on a roughly 12,000-title catalogue and vary with catalog popularity and renewal activity.
- Payment disputes and recoveries: The Trust asserted $271,140 in underpayments and reached a $500,000 settlement covering claims through Dec. 31, 2024.
- Operational amendments post-settlement: The settlement narrowed deductible foreign fees with a 25% cap and limited U.S. renewal cost offsets to U.S. royalties beginning July 1, 2025.
- Cash flow & distributions: Q4 2025 receipts funded the March distribution; trust cash was $0 at March 31, 2026 with $35,536 of unpaid administrative expenses.
- Single-segment focus & risk profile: The trust operates a single reportable segment—collecting and distributing contingent payments—exposing it to copyright expirations and renewal/termination risks.
Original SEC Filing:
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