Newport Exploration (TSE:NWX) has released an update.
Newport Exploration Ltd. announced a significant after-tax royalty payment of AUD$957,963 for the November 2023 to January 2024 quarter, received from Beach Energy Ltd. This income, net of Australian withholding tax, contributes to the company’s robust financial position of CDN$2.5 million in reserves, with an upcoming dividend payout and a commitment to regular dividends for shareholders while maintaining a debt-free status.
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