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Dorchester Minerals, L.P. (NASDAQ:DMLP), a $1.34 billion market cap crude petroleum and natural gas company, announced the results of its annual meeting of limited partners held on May 14, 2025, according to a recent SEC filing. The Dallas-based company, which boasts impressive gross profit margins of 94% according to InvestingPro, reported the election of three managers to its Board of Managers and the Advisory Committee. Additionally, the partnership, which maintains a robust dividend yield of 10.26% and has consistently paid dividends for 23 consecutive years, confirmed the appointment of Grant Thornton LLP as its independent registered public accounting firm for the year ending December 31, 2025. For more detailed financial insights and additional ProTips, visit InvestingPro.
The elected managers, who will serve until the 2026 Annual Meeting of Limited Partners, are Allen D. Lassiter, C.W. Russell, and Sarah N. Wariner. The voting outcomes for the election of managers were as follows: Lassiter received 18,108,061 votes for and 170,593 votes withheld; Russell had 17,242,001 votes for and 1,036,653 votes withheld; Wariner garnered 18,084,209 votes for and 194,445 votes withheld. There were also 14,206,798 broker non-votes for each candidate.
In the vote for the appointment of the accounting firm, 32,262,966 votes were cast in favor, 154,722 against, and there were 67,764 abstentions.
The filing did not disclose any other matters that may have been voted upon during the meeting. The information provided is based on a press release statement from Dorchester Minerals.
In other recent news, Dorchester Minerals has announced the upcoming retirement of Ronald P. Trout from its Board of Managers. Trout, who has been an independent member of the board for 17 years, will not seek re-election at the 2025 Annual Meeting of Limited Partners. His departure is not due to any disagreements with the company’s operations, policies, or practices, and he will continue his duties until the end of his term. The company has not yet announced a successor or detailed any potential changes to the board’s composition following Trout’s retirement. This announcement was part of a routine filing with the Securities and Exchange Commission, aimed at keeping investors informed about changes in the company’s management structure. Stakeholders are expected to closely monitor any future announcements regarding new board appointments. Dorchester Minerals has not indicated how Trout’s retirement might impact the board’s advisory committee or the company’s overall strategy. These developments are part of the company’s ongoing governance and strategic planning efforts.
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