Apex Mining Co. Inc. has doubled its cash dividend rate to 20 percent of consolidated net income and declared a special dividend, bringing total payouts to ₱3.83 billion.
The company said its board of directors approved the amendment to its dividend policy on March 17, increasing the payout from the previous 10 percent of consolidated net income based on audited financial statements. The dividends will be sourced from unrestricted retained earnings.
Apex Mining President and Chief Executive Officer Luis R. Sarmiento said the higher payout reflects the firm’s commitment to delivering value to shareholders. The company first declared cash dividends in 2022.
The board also approved a regular cash dividend and a special cash dividend, subject to separate disclosure.
Apex Mining reported strong financial results for 2025, with consolidated revenues rising to ₱21.34 billion from ₱15.1 billion in 2024. Net income reached ₱7.66 billion, up 77 percent from ₱4.32 billion a year earlier.
Revenues were driven by gold and silver sales from its operating mines — the Maco Mine in Davao de Oro and the Sangilo Mine in Benguet, operated by wholly owned subsidiary Itogon-Suyoc Resources Inc.
Gold sales totaled 100,425 ounces in 2025, down 4 percent from the previous year, but the realized price climbed 45 percent to $3,531 per ounce from $2,436 per ounce in 2024.
Silver sales rose 4 percent to 365,007 ounces from 350,151 ounces in 2024. The realized price also increased 50 percent to $43.04 per ounce from $28.63 per ounce.
“Through the years, we have been focusing on strengthening and stabilizing our balance sheet. We have been channeling our earnings back to mining operations, exploration and development of new sources of ores, as well as the acquisition of new machinery and equipment,” Sarmiento said.
He added that despite global uncertainties, the company’s expansion plans are progressing, with continued prudence in spending to protect and strengthen cash flow.
Chief Financial Officer Billy G. Torres said the acquisition of Asia-Alliance Mining Resources Corp. in 2023 provides additional opportunities for growth and expansion.
Apex Mining’s first cash dividend in 2022 totaled ₱65.7 million, based on net income after tax of ₱657 million in 2021.
The company’s stock has surged nearly 600 percent from January 2020 to April 2025. Between January and February 2026, its share price peaked at ₱17.68 and fell to a low of ₱11.62.
Apex Mining is a publicly listed company that operates the Maco Gold Mine in Davao de Oro. Its subsidiaries include Itogon-Suyoc Resources Inc., which operates the Sangilo Mine in Benguet, and Monte Oro Resources Inc., which manages other business interests locally and abroad. Another subsidiary, Asia-Alliance Mining Resources Corp., is not currently operating a mine.
