Northern Star Resources Ltd (ASX: NST) shareholders will have something to cheer about today as the company pays out its latest dividend.
The gold mining giant is rewarding eligible investors with a fully franked final dividend of 11.5 cents per share.
At the time of writing, the Northern Star share price is travelling 5.3% higher to $7.55 as gold prices climb.
For context, the S&P/ASX 200 Index (ASX: XJO) also heading north with a 1.93% gain following a strong lead on Wall Street overnight.
Let’s take a look at all the details regarding the Northern Star dividend.
Northern Star pays out final dividend
Northern Star delivered a solid performance for its full-year results for the 2022 financial year.
In summary, the company achieved gold production of 1,561koz at an all-in sustaining cost (AISC) of $1,633/oz.
This led to a bumper group revenue of $3,735 million, up 35%.
On the bottom line, Northern Star reported a 27% fall in underlying net profit after tax (NPAT) of $273 million.
However, the biggest win for shareholders came from the board’s decision to increase the final dividend by 21% over H2 FY 2021.
Furthermore, this is the second-biggest dividend to be paid out by the company, behind the 19.5 cents per share paid out during COVID-19.
When calculating against the current share price, the company is trailing on a dividend yield of 2.84%.
Northern Star share price snapshot
Over the past 12 months, the Northern Star share price has fallen 11% on the back of falling gold prices.
Consecutive rate hikes by the US Federal Reserve to combat hot-running inflation hasn’t helped the company.
Nonetheless, the group previously noted it has ample firepower on its balance sheet to seize opportunities during market downturns.
Northern Star has a price-to-earnings (P/E) ratio of 19.31 and commands a market capitalisation of approximately $8.35 billion.
The post Own Northern Star shares? Here’s some great news about your dividends appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has positions in Northern Star Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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