Musk threatens Apple with legal action over App Store bias towards OpenAI
DALLAS, TX – Dorchester Minerals, L.P. (NASDAQ:DMLP), a $1.4 billion market cap natural resources company, disclosed today that Ronald P. Trout, a long-standing independent member of the Board of Managers of its general partner, has announced his retirement. Trout has served on the board for 17 years and will not seek re-election at the upcoming 2025 Annual Meeting of Limited Partners.
Trout’s departure from the board is set to take effect at the end of his current term, coinciding with the 2025 Annual Meeting. The company has clarified that his decision to retire is not due to any disagreements with Dorchester Minerals’ operations, policies, or practices. Until the annual meeting, Trout will continue his duties as a manager and as a member of the Advisory Committee.
Dorchester Minerals is a Dallas-based partnership that deals in the acquisition, ownership, and administration of natural gas and crude oil properties. The company maintains a robust 95% gross profit margin and offers investors a substantial 9.9% dividend yield. According to InvestingPro, the company has maintained dividend payments for 23 consecutive years and holds more cash than debt on its balance sheet. Trout’s long tenure on the board has been marked by significant contributions to the company’s governance and strategic direction.
The announcement comes as part of a routine filing with the Securities and Exchange Commission, which keeps investors informed about key changes in the company’s management structure. The company has not yet announced a successor or provided details on potential changes to the board’s composition following Trout’s retirement.
Investors and stakeholders will be watching closely for any announcements regarding new appointments to the board as the company prepares for its annual meeting. Dorchester Minerals has not indicated how Trout’s retirement might affect the board’s advisory committee or its overall strategy moving forward. The company maintains strong financial health with an "Overall Great" rating from InvestingPro, which highlights six additional key insights about the company’s performance and potential.
This report is based on statements from a press release and has not been independently verified.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.