Changes over dividend payments are being made at Mach Natural Resources LP.
A recent filing with the Securities and Exchange Commission show the Oklahoma City energy company took steps to make the dividend or quarterly cash distributions to unitholders from 60 days after the end of each quarter to 90 days.
As the filing indicated, the May 13 decision was made by the board of directors and Tom Ward who holds more than 86% of the units in the company. The move was also made in lieu of a meeting of unitholders. The filing stated that the unitholders’ vote or consent was “not requested or required to approve the action.”
No explanation was given why the extension of the cash distribution payment time was needed.
The remaining unitholders were notified in the past week of the decision.
