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Newport Receives AUD$2,761,395 (Gross)/AUD$1,932,977 (Net) Quarterly Royalty Payment
Newport Receives AUD$2,761,395 (Gross)/AUD$1,932,977 (Net) Quarterly Royalty Payment ...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n \n \n \n Newport Receives AUD$2,761,395 (Gross)/AUD$1,932,977 (Net) Quarterly Royalty Payment\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 \n VANCOUVER, BC\n \n ,\n \n June 1, 2021\n \n /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to report the receipt of its after tax 2.5% Gross Overriding Royalty (\"GOR\") payment from Beach Energy Ltd. (\"Beach\") for the\n \n February 2021\n \n –\n \n April 2021\n \n quarter. Gross royalty income for the quarter was AUD$2,761,395. The AUD$1,932,977 payment received by\n \n Newport\n \n is net of 30% Australian withholding taxes (AUD$828,418).\n \n \n \n \n \n \n \n \n \n \n \n Company Financial Status\n \n \n \n \n \n Newport\n \n has approximately\n \n CDN$7.5 million\n \n in its Treasury, comprised of cash, cash equivalents and short-term investments, with no debt. As announced on\n \n May 11\n \n \n th\n \n , 2021,\n \n Newport's\n \n second quarterly dividend payment date for 2021 is\n \n June 10\n \n \n th\n \n , 2021. After the dividend payment, the Company will have approximately\n \n CDN$5.4 million\n \n in its Treasury.\n \n \n The Company has a strong balance sheet and management is confident in its ability to maintain regular quarterly dividend payments as committed to in the News Release dated\n \n December 10\n \n \n th\n \n , 2019.\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 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 quarter 2021 dividend, the Company still retains a margin of financial safety to maintain scheduled dividend distributions.\n \n \n \n \"We remain optimistic about the potential for ...