Dividends

Dividend History

Effective December 2019, the Company’s Board of Directors approved a quarterly ‘fixed distribution’ dividend of $0.01 per share commencing March 2020, with subsequent dividend payments every three months. The Company reserved the right to change the dividend payment from time to time, which it has.  on February 12, 2024, the Company announced it amended the quarterly dividend to $0.005 per share.  On August 9, 2024, the Board of Directors of the Company postponed the next dividend payment pending the announcement of Beach’s future plans.  Due to a lack of specific plans disclosed by Beach on the Company’s GOR licenses, decreased oil production and depressed Brent Crude oil prices, on December 13, 2024, the Company made the decision to terminate its quarterly fixed dividend distribution and revert back to its previous policy of Special Dividend payments. 

All dividends paid by Newport Exploration Ltd are “eligible dividends” for Canadian tax purposes unless indicated otherwise.