It won't cover the cost of the yaht but every bit helps .Newdividend announced for payment increased to .02 cents
("Newport" or "the Company") is pleased to announce its second quarterly cash dividend ("the Dividend") in 2021, of $0.02 per share to its shareholders of record at the close of business on May 26, 2021. The Dividend payment date is June 10, 2021. The Dividend, fully approved by the Board of Directors, is not subject to any changes and has been designated as an "eligible dividend" for Canadian income tax purposes.
Increased Dividend
As stated in a Company News Release dated March 12, 2021, the Company retains the option of increasing the quarterly dividend at any time, as it did in December 2020 with the tripling of the scheduled quarterly dividend amount. The Company's strong balance sheet ensures that it has the ability to not only maintain regular $0.01 per share quarterly dividend payments, but to increase the second quarterly dividend for 2021 to $0.02 per share. This is being done for the benefit of all shareholders and without taking on any debt or undertaking equity financing.
Notwithstanding the doubling of the second quarter 2021 dividend, the Company still retains a margin of financial safety to maintain scheduled dividend distributions.
"The recent decrease in production should be offset this quarter as a result of the 39% increase in oil price received by Beach, and by doubling the second quarterly dividend, Management is simply keeping its pledge to return GOR revenues to shareholders in a timely manner," stated Ian Rozier, President and CEO of Newport.