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Newport Payment of Fourth Quarterly Cash Dividend in 2021
Newport Payment of Fourth Quarterly Cash Dividend in 2021 Canada NewsWire ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n \n \n \n Newport Payment of Fourth Quarterly Cash Dividend in 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 Dec. 9, 2021\n \n /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to announce the payment of its fourth quarterly cash dividend (\"the Dividend\") in 2021 of\n \n $0.02\n \n /share, to its shareholders of record at the close of business on\n \n November 24\n \n \n th\n \n , 2021. As previously disclosed, the Company proposes to continue with the payment of quarterly dividend distributions, with the next payment scheduled for March, 2022.\n \n \n \n \n \n \n \n \n \n \n Newport\n \n has approximately\n \n CDN$3.9 million\n \n in its Treasury, comprised of cash, cash equivalents and short-term investments, with no debt.\n \n \n The Company's management Strategy was summarized in a Company News Release dated\n \n February 10\n \n \n th\n \n , 2021. Notwithstanding the doubling of the second, third and fourth quarter 2021 dividends, the Company still retains a margin of financial safety to maintain scheduled dividend distributions.\n \n \n \n \n About\n \n Newport\n \n \n \n \n \n \n Newport\n \n has a 2.5% Gross Overriding Royalty (\"GOR\") over permits in the Cooper Basin,\n \n Australia\n \n , operated by Beach Energy Ltd (\"Beach\"). There is no time limit or expiry date on the GOR assets, and no cost to the Company to retain them.\n \n \n \n Newport\n \n has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach's operating plans going forward. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos Ltd in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR. The Company receives its GOR from Beach which is not a reporting issuer in\n \n Canada\n \n , therefore\n \n Newport\n \n is no...