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Newport Doubles Fourth Quarterly Cash Dividend of 2021
Newport Doubles Fourth Quarterly Cash Dividend of 2021 Canada NewsWire ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n \n \n \n Newport Doubles Fourth 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 \n VANCOUVER, BC\n \n ,\n \n Nov. 9, 2021\n \n /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to announce its fourth quarterly cash dividend (\"the Dividend\") in 2021, of\n \n $0.02\n \n per share to its shareholders of record at the close of business on\n \n November 24, 2021\n \n . The Dividend payment date is\n \n December 9, 2021\n \n .\n \n \n \n \n \n \n \n \n \n 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 Increased Dividend\n \n \n \n \n As stated in a Company News Release dated\n \n March 12, 2021\n \n , the Company retains the option of increasing the quarterly dividend at any time, as it did in\n \n December 2020\n \n with the tripling of the scheduled quarterly dividend amount, and the doubling of the second, third and fourth quarterly dividends of 2021 to\n \n $0.02\n \n per share.  The Company's strong balance sheet ensures that it has the ability to not only maintain regular\n \n $0.01\n \n per share quarterly dividend payments, but to increase the fourth quarterly dividend for 2021 to\n \n $0.02\n \n per share. This is being done for the benefit of all shareholders and without taking on any debt or undertaking equity financing.\n \n \n Notwithstanding the doubling of the second, third and fourth quarterly dividends of 2021, the Company still retains a margin of financial safety to maintain scheduled dividend distributions.  After the payment of\n \n Newport's\n \n fourth quarterly dividend, distributions during 2021 will be\n \n $0.07\n \n per share, or approximately 14.4% based on the current share price.\n \n \n The continued increase in realized oil prices experienced by Beach Energy Ltd (\"Beach\") over its last quarter should help offset the decrease in production on licenses ov...