Freehold Royalties cuts monthly dividend by 36%

Freehold Royalties will lower its monthly dividend from C$0.14 to C$0.09 per share.

The revision to the dividend is reflective of the current oil and gas price environment, according to Freehold Royalties. Along with the dividend adjustment for 2015, the Board has revised its capital budget from $30 to $25 million, it's commodity outlook and the production forecast.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties). Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.

Source: Freehold Royalties

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