Northern Star executive chairman Bill Beament told investors this morning that the result was particularly satisfying, given it was the result of a focus on organic growth.
“Nothing delivers like organic growth and we believe we have much more to come,” he said.
Earnings before interest, tax, depreciation and amortisation of $461.3 million was also a new record, with the EBITDA margin improving to 52% from 45%.
Operating cashflow was up by 9% to a record $435.3 million.
Return on equity was 40.4%, while return on invested capital was 33.5%.
The company increased its final dividend by 50% to 6c per share, taking the full-year payout to 9c per share.
Beament said the company continued to lead the global sector on financial metrics and shareholder returns.
Northern Star will to pay 6% of its revenue in dividends, which Beament said provided more certainty for shareholders over a profit or cashflow-linked structure.
“Our enviable position is the result of us being a shareholder-focused company,” he said.
“Northern Star is a business first and a mining company second – these results reflect our ethos.”
The company has committed to maintain a minimum $300 million cash balance.
“We think we’re striking the right balance between money we retain and money we give to shareholders and money we invest in our portfolio,” Beament said.
“We think we’ve got the balance right to be able to do everything through the cycle.”
Shares in Northern Star dropped by 0.5% to $4.955.
