OceanaGold (Philippines) Inc. reported second-quarter net income of $32.7 million as the Didipio gold-copper mine remained on track to meet its 2026 production, cost and capital guidance, and declared a quarterly cash dividend of $17 million.
The listed miner said revenue for the April-to-June period reached $126.9 million, while earnings per share stood at $0.014. Gold production totaled 21,400 ounces and copper output reached 2,700 metric tons during the quarter.
For the first six months of the year, OceanaGold Philippines generated revenue of $285.3 million and net income of $67.4 million, with free cash flow amounting to $62.3 million. Gold production reached 41,800 ounces, while copper production totaled 5,900 metric tons.
The company said higher production and lower costs are expected in the second half of the year, keeping it on track to achieve its full-year guidance.
"We maintained safe and responsible production of gold and copper in line with our guidance," OceanaGold Philippines President Joan Adaci-Cattiling said.
"With today's gold prices and another solid quarter of operating performance, we announced another healthy quarterly dividend for our shareholders. Pleasingly, we also continue to advance our organic growth projects including the ramp of underground mining rates and the acceleration of drilling both our underground and near-mine regional targets such as True Blue," she added.
The board declared a second-quarter dividend of $0.0075 per common share, equivalent to about P0.4628 per share based on an assumed exchange rate of P61.713 to the U.S. dollar. Shareholders of record as of Aug. 20, 2026, will receive the dividend on Sept. 17, 2026. Payments will be made in Philippine pesos using the prevailing exchange rate on the payment date.
