March 3 (Reuters) - Freehold Royalties Ltd FRU.TO :
* Announces 2015 fourth quarter results and year-end reserves, adjusts dividend
* Q4 FFO per share C$0.26
* Says board of directors has approved an adjustment to its monthly dividend to
$0.04 per share from $0.07 per share
* Production for q4-2015 averaged 11,815 boe/d, a 20% increase over Q4- 2014
* Says "dividend reduction aligns with a lower for longer commodity outlook"
* Freehold royalties ltd-capital spending budget has been reduced from $15
million to $7 million reflecting the weaker commodity outlook for 2016
* Qtrly gross revenue $33.8 million versus $43.6 million
* Source text for Eikon Further company coverage FRU.TO