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Record interim dividend, on track to achieve FY25 guidance

Northern Star Resources Ltd (ASX: NST) has reported a stellar set of results for the first half of fiscal year 2025. The gold miner delivered record interim earnings and dividends, driven by higher gold sales and prices.

During the period, Northern Star sold 804,000 ounces of gold at an all-in sustaining cost (AISC) of A$2,105 per ounce. This translated to a 63% jump in cash earnings to A$1,146 million and a 58% increase in underlying EBITDA to A$1,402 million, compared to the prior corresponding period.

Reflecting the company's strong financial performance, Northern Star declared a record interim dividend of A25.0 cents per share, up 67% from a year ago. The dividend payout ratio of 25% of cash earnings demonstrates the company's commitment to rewarding shareholders.

Northern Star's balance sheet remains in excellent shape, with net cash of A$265 million and total cash and bullion of A$1,215 million as of 31 December 2024.

Commenting on the results, Managing Director Stuart Tonkin said the company is well-positioned to achieve its FY25 production and cost guidance. Northern Star expects to sell between 1,650,000 to 1,800,000 ounces of gold at an AISC of A$1,850 to A$2,100 per ounce in the current fiscal year.

The company is also making good progress on its key growth initiatives, including the KCGM Mill Expansion Project, which remains on time and within budget. Additionally, Northern Star continues to pursue exploration success at its existing operations and the recommended offer to acquire De Grey Mining.

Overall, Northern Star's impressive first-half performance and positive outlook reinforce the strength and value-creation embedded in the company's business model.