OceanaGold (Philippines), Inc. reported strong operational and financial results for the first quarter of 2025, on track to meet its full-year production and cost targets.
The company announced a cash dividend of $0.0075 per share, or P0.4227 per share, based on a PHP/USD exchange rate of 56.69, for the quarter.
OGP produced 20,600 ounces of gold and 3,400 tonnes of copper in the three months ending March 31, 2025, translating into $79 million in revenue and $7 million in net income, with earnings per share at $0.003.
“During the first quarter, we safely produced gold and copper in line with our guidance. I am pleased to declare another strong dividend payment to start the year, having now returned approximately US$86 million to our shareholders via dividends in the one-year period since the May 2024 IPO,” said OGP president Joan Adaci-Cattiling.
She said underground mining rates are expected to ramp up in the second half of 2025 and beyond, supported by favorable metal prices.
The declared dividend amounted to approximately $17 million in total.
Shareholders will receive the payment on June 18, 2025, with payouts in Philippine pesos based on the prevailing exchange rate at the time of disbursement.
OceanaGold Philippines operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement (FTAA) with the government.
The company reiterated its commitment to responsible mining practices while maximizing free cash flow and shareholder returns.