Newport Exploration (TSE:NWX) has released an update.
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Newport Exploration Ltd has announced a significant quarterly royalty income of AUD$1,034,780 before taxes, resulting in a net amount of AUD$724,346 after Australian withholding taxes. Despite weather challenges impacting oil production, the company has continued its commitment to shareholder returns by issuing a $0.005 per share dividend. Newport remains financially robust, with a treasury of approximately CDN$1.8 million post-royalty and no debt, while maintaining a flexible dividend policy for the future.
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