Newcrest Mining says it is paying its biggest annual dividend before it is likely to change hands to US owners.
Australia's biggest goldminer, which will ask shareholders in October to approve its $29 billion acquisition by US gold heavyweight Newmont, is paying out a final full-franked dividend of 20 US cents per share.
That takes its total 2022/23 dividends to US 55c per share, up 16 per cent from last year and its best level ever.
The goldminer announced on Friday revenue rose seven per cent to $US4.5 billion for the 12 months to June 30, but a rise in costs caused a decline in profit.
Newcrest made a full-year statutory profit of $US778 million, down 11 per cent from last year, as its all-in sustaining cost (ASIC) rose five per cent to $US1,093 an ounce.
Newcrest produced 2.1 million ounces of gold, up eight per cent from last year, and sold it at an average price of $US1,797 an ounce.
Farhan Badami, market analyst at eToro, said investors would have mixed feelings about the result.
He noted the record dividend as well as the slump in profit - but said the result still beat analyst expectations of a $US689.7 million profit.
"The company experienced elevated depreciation expenses and greater operating costs due to the expected impacts of rising inflation over this period," Mr Badami said.
"Furthermore, a reduction in Newcrest's share of associate profits, coupled with higher finance costs driven by increased debt levels and prevailing interest rates, has impacted the company's margins during this reporting period."
Newcrest interim chief executive Sherry Duhe said fiscal 2023 had been a transformational year for the company, with progress on its expansion projects at its Cadia mine near Orange, NSW, its Lihir mine in PNG and Red Chris in British Columbia, Canada.
"We are incredibly proud of the successful business our people have created and the significant premium offered by Newmont to acquire our company is testament to their hard work and dedication over many years," she said.
If the transaction goes through Newmont will trade on the ASX via a secondary listing.
