OceanaGold (Philippines) Inc. said Thursday its net income amounted to $3.6 million on revenues of $102 million in the third quarter of 2024.
The company declared a dividend of $0.0138 per share, equivalent to an annualized yield of about 20.6 percent.
“We’re pleased to declare our second dividend and see continued growth in production,” said company president Joan Adaci-Cattiling.
“Optimization efforts are on track to achieve 2 million tons per annum by year-end. We remain committed to safe and responsible mining practices and delivering strong returns for our shareholders,” she said.
The dividend of $31.5 million will be paid to shareholders on Nov. 20, 2024. Payment will be made in Philippine pesos based on the prevailing exchange rate on the day of payment.
The company’s gold output increased 21 percent to 27,900 ounces, while copper production rose 21 percent to 3,400 tons.
The company also extended its exploration permit for the FTAA area for an additional five years and updated its 2024 production guidance to 104,000 to 108,000 ounces of gold at an AISC of $1,000 to $1,100 per ounce sold.
OGP operates the Didipio gold-copper mine under a financial or technical assistance agreement (FTAA).
The company said it is committed to safe and responsible mining practices while maximizing shareholder returns.
