Trading Symbol: NWX (TSX-V)
Annual Dividend and 2020 Share Price Performance
The
Newport's 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%.
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.
With respect to the Company's share price performance, Newport has been able to regain the lost ground from the
Investors are cautioned that historical results are no guarantee of future performance.
M&A activity has increased in 2020 as many companies facing liquidity pressures become forced sellers of assets. Management continues to evaluate opportunities that arise and are confident that if necessary, funds could be raised through equity financing, and most importantly for shareholders, without affecting the current dividend policy.
About Newport
Newport holds a 2.5% GOR on several oil and gas licences and permits in the
The Company receives its GOR from Beach which is not a reporting issuer in
The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR.
The Company currently has 105,579,874 common shares issued and outstanding and
Neither the
Cautionary Statement on Forward-Looking Information
This news release is intended to provide readers with a reasonable basis for assessing the future performance of the Company. The words "believe", "should", "could", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements may pertain to assumptions regarding the price of oil and fluctuations in currency markets (specifically the Australian dollar) and future dividend payments. Forward-looking statements are based upon a number of estimates and assumptions that, which are considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties and contingencies. Factors include, but are not limited to, the risk of fluctuations in the assumed prices of oil, the risk of changes in government legislation including the risk of obtaining necessary licences and permits, taxation, controls, regulations and political or economic developments in
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
SOURCE
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