Westgold Resources posts $2.44B FY26 revenue on gold
Full story: https://grafa.com/en/news/australia/westgold-resources-posts-2-44b-fy26-revenue-on-gold
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Westgold Resources reported full-year revenue of $2.44 billion and a 10 cents per share dividend.
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The gold producer achieved $602 million in free cash flow while operating fully debt-free.
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The company established a new capital return policy targeting a minimum return of 3 cents per share.
Westgold Resources (ASX:WGX) reported full-year revenue of $2.44 billion for the period ended June 30, representing a 79% surge driven by record annual gold production.
The company's annual revenue rose from $1.36 billion in the prior financial year, while free cash flow jumped to $602 million.
“Record gold production, improved operating consistency and a favourable gold price drove record earnings, cash flow and treasury growth, strengthening our capacity to invest, grow and return capital. We returned a record $122M to shareholders through dividends and share buybacks in FY26,” said Westgold Resources Managing Director and CEO Wayne Bramwell.
The miner recorded an underlying net profit after tax of $480 million and declared a final fully franked dividend of 10 cents per share alongside a $50 million share buyback programme for the upcoming financial year.
The company stated that its updated capital return strategy aims to maintain balance sheet strength while delivering disciplined returns capped at 30% of annual free cash flow.
Following the announcement, the Westgold Resources share price was in focus at $6.62.
Westgold Resources maintains fully unhedged gold operations across Western Australia following its major cross-border merger with Karora Resources.
The company operates primary mining hubs in the Murchison and Southern Goldfields regions while running active exploration programmes across its site footprint.
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