NRP MLP — Natural Resource Partners

Natural Resource Partners (NRP)

NRP is a MLP. its distribution rate is 2.78%, its trailing-12-month yield is 2.90%. Dividend Vision Distribution Safety Score™ is 99/100 (Safe). Total return is 527.5% over the past 23.9 years, 793.8 points behind SPY at 1321.3%.

At the current 2.78% distribution rate, a $10,000 investment would generate approximately $278 per year, or about $69.50 per quarter if the next payment matches the last regular one.

Natural Resource Partners is a master limited partnership that owns and manages mineral interests across the United States, earning royalty income from coal and aggregates production and holding an ownership stake in a soda ash producer; its coal reserves are concentrated in Appalachia, the Illinois Basin, and the Northern Powder River Basin, while it also holds industrial minerals, aggregates, and oil and gas properties. The partnership distributes cash quarterly at a modest current distribution rate. It appeals primarily to income-focused investors seeking exposure to natural resource royalties and infrastructure, though the energy sector focus carries commodity price sensitivity.

NRP performance versus SPY

Price and return data through 2026-09-21.

Total return is 527.5% over the past 23.9 years, 793.8 points behind SPY at 1321.3%. Over the past year its total return — price change plus distributions reinvested — is 8.9%. Its deepest 1-year drawdown was 22.9%.

NRP key facts

Distribution Safety Score™

99 · Safe

Safety-Adjusted Yield

2.75%

Issuer

Natural Resource Partners

Asset type

MLP

Asset class

Equity

Distribution rate

2.78%

Distribution frequency

Quarterly

Trailing yield

2.90%

5-year average yield

4.27

Last close

$107.74 (as of 2026-09-21)

Market cap

$1,427,599,389

Average volume

44967.0

Last dividend

$0.75

Last ex-dividend date

08/18/2026

Last payment date

08/25/2026

Beta

0.167

Payout ratio

0.3023

P/E ratio

13.64

Forward P/E

6.2189

EPS

$7.90

How Dividend Vision calculates yield and returns

Distribution rate (2.78%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (2.90%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Natural Resource Partners or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

NRP risks and drawbacks

NRP's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 22.9%.

Who may consider NRP — and who may not

NRP may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (NRP pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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