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Newport Announces First Quarterly Cash Dividend of 2021
Newport Announces First Quarterly Cash Dividend of 2021 Canada NewsWire ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n \n \n \n Newport Announces First Quarterly Cash Dividend of 2021\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n Trading Symbol: NWX (TSX-V)\n \n \n VANCOUVER, BC,\n \n Feb. 10, 2021\n \n /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to announce its first quarterly cash dividend (\"the Dividend\") in 2021 of\n \n $0.01\n \n per share to its shareholders of record at the close of business on\n \n February 25\n \n \n th\n \n , 2021. The Dividend payment date is\n \n March 12\n \n \n th\n \n , 2021. The Dividend, fully approved by the Board of Directors, is not subject to any changes and has been designated as an \"eligible dividend\" for Canadian income tax purposes.\n \n \n \n \n \n \n \n \n \n The\n \n $0.01\n \n /share dividend paid in\n \n September 2020\n \n , the\n \n $0.03\n \n /share dividend paid in\n \n December 2020\n \n and the\n \n $0.01\n \n /share dividend to be paid in\n \n March 2021\n \n will be recorded in the Financial Year ended\n \n July 31, 2021\n \n .\n \n \n The Company's Dividend Performance, Annual Yields and Earnings per Share since 2015 were documented in a Company News Release dated\n \n November 12\n \n \n th\n \n , 2020.\n \n Newport's\n \n dividend payout ratio, being the cash dividends per share of common stock divided by the earnings per share of common stock, compares favorably with that of other yield stocks, particularly those in the energy sector. Investors are cautioned that historical results are no guarantee of future performance.\n \n \n \n \n Management Strategy\n \n \n \n \n Management has received overwhelming support from shareholders for its dividend policy, and many shareholders have expressed the sentiment that paying out a regular dividend at this time is a priority. The dividend strategy has enabled the Company to retain a margin of safety to maintain dividend distributions despite the sector downturn in 2020, with the option of increasing the quarterly dividend at any time.\n \n \n The Company has an advantageous business model with a 2....