Perenti delivers another record year of earnings and free cash flow in FY24

Perenti has delivered another year of strong financial results, headlined by record revenue and underlying earnings and free cash flow of $184 million. The consistent strong cash flow and the fundamental strength of the business has enabled the declaration of a 4 cents per share final dividend. This lifts the total dividend for FY24 to 6 cents per share, implying a 5.9% yield based on the 19 August 2024 closing share price.

Mark Norwell, Managing Director & CEO of Perenti said, “The Perenti team has successfully delivered another year of impressive results. The strong free cash flow has allowed us to further reduce leverage, recommence dividends and continue our buyback, all whilst maintaining investment in earnings growth during FY24.

“During recent years, our business has built significant scale and diversity across our divisions. Our scale and diversity allows for fluctuations related to operations or capital requirements to be smoothed out as projects move through the different stages of development, operational ramp up and mine closure. This ultimately allows for greater consistency in earnings and reliable free cash flow generation. The recommencement of dividends is a tangible demonstration of our optimism that we will continue to deliver free cash flow in the future. To offer our shareholders additional certainty, we are pleased to announce that the Board has agreed to a dividend policy targeting a payout of 30-40% of underlying NPAT(A) during the years ahead.

“Perenti is focused on delivering value and certainty for all its stakeholders. I am incredibly proud of our dedicated team who have delivered this record result. On behalf of the Board and Group Executive I sincerely thank all our staff, and I look forward to working with them to deliver again in FY25.”

For more information on Perenti’s FY24 Results visit our Investor Centre