Land Board announces record distributions

Local News Land Board announces record distributions By MDN STAFF November 12, 2026 2 min read Trending BISMARCK - Historic distributions of nearly $752 million have been granted for the 2027-2029 biennium to beneficiaries of the University and School Lands Trust, according to an announcement by the Department of Trust Lands on behalf of the Board of University and School Lands (Land Board). The distributions reflect strong growth in asset values that have allowed an increase in average distributions of 23% over the previous biennium, the department stated. Minot State University and Dakota College at Bottineau each will receive $494,000. The Land Board distributions have provided an ongoing source of funding for decades. The money is appropriated by the Legislature as part of support for the overall operating budgets of the universities and colleges, according to MSU information. The Land Board, in close collaboration with Trust Lands staff, manages more than 700,000 surface acres, 2.6 million mineral acres and 13 permanent trusts. The record growth stems from factors that include $2.4 billion in oil and gas royalties generated over the last five years from nearly 10,000 wells, along with income from agricultural rents, easements and a well-diversified $9.5 billion investment portfolio. The Common Schools Trust Fund, valued at $9.3 billion as of June 30, makes up the vast majority of the Land Board’s investment portfolio. The 2027-29 distribution from the Common Schools Trust fund will be $722 million, up 23.5% from the current biennium distribution of $585 million, the Department of Trust Lands reported. "Responsible management of our state's mineral and land resources continues to produce meaningful benefits for North Dakota's greatest resource - our young people," said Gov. Kelly Armstrong, who chairs the five-member Land Board, which also consists of State Superintendent of Public Instruction Levi Bachmeier, State Treasurer Thomas Beadle, Secretary of State Michael Howe and Attorney General Drew Wrigley. "These historic distributions reflect the Land Board's commitment to responsible stewardship and ensuring North Dakota's trust assets deliver lasting value," said Joseph Heringer, Trust Lands commissioner. "By carefully managing these resources, we are strengthening educational opportunities across the state and investing in a brighter future for generations of North Dakotans."