OceanaGold Philippines declares USD 17-M dividend after Q2 earnings surge

OceanaGold (Philippines), Inc. declared a USD 17 million dividend for the second quarter of 2026 after net income more than doubled to USD 32.7 million from USD 14.6 million a year earlier.

The dividend was set at USD 0.0075 per common share, equivalent to around PHP 0.4628 per share based on the exchange rate used in the company’s announcement.

Second-quarter revenue increased to USD 126.9 million from USD 96.2 million in the same period last year, while earnings per share rose to USd 0.014 from USD 0.006.

Shareholders on record as of August 20, 2026 will be entitled to receive the dividend on September 17, 2026.

The payment will be made in Philippine pesos using the prevailing exchange rate on the date it is processed.

The stronger financial results came despite lower gold and copper production during the quarter.

Gold output declined to 21,400 ounces from 24,500 ounces a year earlier, while copper production fell to 2,700 tonnes from 3,700 tonnes.

All-in sustaining costs (AISC), which measure the broader cost of maintaining gold production, rose to USD 1,589 per ounce from USD 1,287 per ounce.

Free cash flow also turned negative at USD 17.8 million, compared with positive USD 19.5 million in the second quarter of 2025.

OceanaGold Philippines President Joan Adaci-Cattiling said the company maintained safe and responsible gold and copper production in line with its guidance.

“With today’s gold prices and another solid quarter of operating performance, we announced another healthy quarterly dividend for our shareholders,” Adaci-Cattiling said.

The company said it remains on track to meet its 2026 production, cost, and capital guidance, with higher output and lower costs expected in the second half of the year.

It also continued ramping up underground mining rates and accelerating drilling at underground and near-mine regional targets, including True Blue.

OceanaGold Philippines operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement.

Can higher production and lower costs in the second half offset the weaker output and negative free cash flow recorded during the second quarter?

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