DALLAS, Sept. 5 /PRNewswire-FirstCall/ -- Bank of America, N.A., Dallas,
Texas, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a
cash distribution to the holders of its units of beneficial interest of
$0.21924 per unit, payable on September 29, 2003, to unit holders of record on
September 15, 2003.
Due to the timing of the end of the month of August, approximately
$907,000 of revenue received will be posted in the following month of
September in addition to normal receipts during September.
Effective July 1, 2003, unit holders who are not Oklahoma residents are
subject to a new 5% Oklahoma income tax withholding tax. The withholding tax
applies to the Oklahoma share of the Trust's income. The withholding tax
reduces the amount of cash that the unit holders who are not Oklahoma
residents are receiving in this distribution. The Oklahoma Tax Commission
("OTC") is in the process of updating its website to include information about
this new withholding tax. The OTC's website address is:
http://www.oktax.state.ok.us/passwith.html . More specific tax information as
to timing and filing of the tax withheld will follow soon.
For more information on Sabine Royalty Trust, please visit our website at
http://www.sbr-sabineroyalty.com .
Contact: Ron E. Hooper
Senior Vice President
Bank of America, N.A.
Toll Free - 800.365.6541
SOURCE Sabine Royalty Trust
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Related links:
http://www.sbr-sabineroyalty.com
http://www.oktax.state.ok.us/passwith.html
Company News On-Call:
http://www.prnewswire.com/comp/118881.html
CONTACT:
Ron E. Hooper, Senior Vice President of Bank
of America, N.A., +1-800-365-6541, for Sabine Royalty Trust
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