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Newport Payment of Second Quarterly Cash Dividend in 2021
Newport Payment of Second Quarterly Cash Dividend in 2021 Canada NewsWire ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n \n \n \n Newport Payment of Second 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 June 10, 2021\n \n /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to announce the payment of its second 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 May 26\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 September, 2021.\n \n \n \n \n \n \n \n \n \n \n \n Annual Dividend and 2021 Share Price Performance\n \n \n \n \n The\n \n $0.01\n \n /share dividend paid on\n \n September 10\n \n \n th\n \n , 2020, the\n \n $0.03\n \n /share dividend paid on\n \n December 11\n \n \n th\n \n , 2020, the\n \n $0.01\n \n /share dividend paid on\n \n March 12\n \n \n th\n \n , 2021 and the second quarterly dividend payment in 2021 of\n \n $0.02\n \n /share dividend paid today, will be recorded in the Financial Year ended\n \n July 31, 2021\n \n . The Company's ability to return cash to shareholders is attributed to the recurring free cash flow generated by its 2.5% 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 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. Investors are cautioned that historical results are no guarantee of future performance.\n \n \n \n \n Management Strategy\n \n \n \n \n As reported in a Company News Release dated\n \n February 10\n \n \n th\n \n , 2021, Management's 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, as it ...