Jupiter Mines has declared an interim dividend of A$0.0075 per share (0.75 cents per share, unfranked) for the period ending December 31.
It comes after Tshipi é Ntle Manganese Mining, with which Jupiter holds a 49.9 per stake, declared an interim dividend of ZAR300 million ($25.9 million) for the first half of the 2024–25 financial year (FY25).
Jupiter’s share of this dividend amounts to ZAR142 million ($12 million), with an additional ZAR47 million ($4 million) received from marketing profits for the same period.
The FY25 interim dividend of 0.75 cents per share is consistent with Jupiter’s three-year average of interim dividend payments from FY22 to FY24, demonstrating the stability of the company’s dividend policy.
“Tshipi’s quality resource and experienced management team have enabled the mine to maintain a strong operational performance over the past six months, despite volatile market conditions for much of the period,” Jupiter managing director Brad Rogers said.
“This resilience, along with Tshipi’s low-cost operations and robust cash flows, positions Jupiter to deliver reliable dividends while pursuing long-term value creation.”
The Tshipi manganese mine continues to be a major driver of Jupiter’s performance, boasting a resource life exceeding 100 years at current production rates.
Its low-cost operations have enabled the company to generate strong cash flows through market cycles, reinforcing Jupiter’s ability to deliver consistent shareholder returns.
In February, the company announced that through Tshipi, Jupiter Mines aims to become the world’s leading manganese producer by June 2028.
The company this week reaffirmed the five-year plan it released in March 2023, which looks to enhance production efficiency, expand market reach, and strengthen sustainability initiatives.
At Jupiter’s current share price, the FY25 interim dividend represents a yield of approximately 5 per cent (10 per cent annualised).
Since listing in April 2018, the company has declared total dividends of $410 million ($0.21 per share).
Over the past seven years, Jupiter has returned dividends totalling around 127 per cent of its current market capitalisation, reflecting the long-term value of the Tshipi operation.
The dividend record date is March 7, with payments to be made on March 21.
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