OZ Minerals lifts dividend despite slide in profit

Company News

by Anna Napoli

OZ Minerals (ASX:OZL) has announced half year results for financial year 19 with net profit underlying NPAT falling 8.7 per cent to $222 million.

The result was in line with prior year's strong performance despite expensing an additional $46 million on progressing growth projects

Revenue increased 9.2 per cent to $1.1 billion.

Earnings (underlying EBITDA) were almost flat at $540 million.

Management declared a fully franked final dividend of 15 cents per share, taking full-year payout to 23 cents, up 20 per cent from the year earlier period.

Shares in OZ Minerals (ASX:OZL) trading 0.65 per cent higher at $10.78.