Newport Payment of Fourth Quarterly Cash Dividend

About this update from Newport Exploration Ltd

[{"type":"text","content":"\n \n \n \n Newport Payment of Fourth Quarterly Cash Dividend\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 Trading Symbol: NWX (TSX-V)\n \n \n \n VANCOUVER, BC\n \n , Dec. 11, 2020 /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to announce the payment of its fourth quarterly cash dividend (\"the Dividend\") in 2020 of\n \n $0.03\n \n per share to its shareholders of record at the close of business on\n \n November 26, 2020\n \n . As previously disclosed, the Company proposes to continue with the payment of quarterly dividend distributions, with the next payment scheduled for March, 2021.\n \n \n \n \n \n \n \n \n \n \n \n Annual Dividend and 2020 Share Price Performance\n \n \n \n \n The\n \n $0.01\n \n /share dividend paid in\n \n September 2020\n \n and the\n \n $0.03\n \n /share dividend paid today will be recorded in the Financial Year ended\n \n July 31, 2021\n \n , along with further dividends to be paid in early 2021. The Company's ability to return cash to shareholders is attributed to the recurring free cash flow generated by its Gross Overriding Royalty (\"GOR\") from licences in the Cooper Basin,\n \n Australia\n \n , operated by Beach Energy Ltd (\"Beach\").\n \n \n \n Newport's\n \n dividend payout ratio, being the cash dividend 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. Since 2015 the Company has paid an average Annual Yield of 21%.\n \n \n With Beach's exploration success, reported oil reserves and low production costs, Management is confident that shareholders of the Company should continue to be rewarded with dividend continuity.\n \n \n With respect to the Company's share price performance,\n \n Newport\n \n has been able to regain the lost ground from the\n \n March 2020\n \n low and since mid-November has been trading at prices above the 2020 opening value, and at 6-year highs.\n \n \n Investors are cautioned that historical results are no guarantee of future performance.\n \n \n M...

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