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New Hope Corp|Australia|Australian Dollar|Bengalla|New Acland|Thermal Coal|Rob Bishop|New South Wales|Queensland
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new-hope-corp|australia|australian-dollar|bengalla|new-acland|thermal-coal|rob-bishop|new-south-wales|queensland

Australian coal miner New Hope gains on paying out highest dividend since 2022

New Hope's Bengella coal mine

New Hope's Bengella coal mine

15th September 2026

By: Reuters

  

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Australian thermal coal miner New Hope Corp declared its largest final dividend in four years on Tuesday despite annual profit more than halving and missing expectations, lifting its shares to their highest in more than three-and-a-half years.

Realised prices potentially rising in fiscal 2027 should help shareholder returns continue, CEO Rob Bishop said in an interview with Reuters.

"We had a strong year, and that's given us the ability to pay a strong dividend," he said.

New Hope declared a final dividend of 30 Australian cents per share for fiscal 2026, its highest since the 31 cents in 2021 and topping last year's 15 cents.

Shares of the company rose as much as 4.1% to A$6.54 in early trade, hitting their highest level since late January 2023. The broader market was down 0.5%, as of 00:56 GMT.

Saleable coal production and sales rose 7.6% and 11.8%, respectively, reflecting the continued ramp-up of its New Acland mine in Queensland and a strong second-half performance at the Bengalla mine in New South Wales.

Annual net profit after tax fell 63.4% from a year earlier to A$161-million ($114.94-million), the lowest since the A$79-million logged in fiscal 2021. It also missed a Visible Alpha estimate of A$182.2-million.

New Hope said earnings were hurt by an 8.8% decline in average realised sales price to A$143.2 per tonne, pressured by unfavourable foreign exchange fluctuations and an uptick in the proportion of high-ash sales across the group.

Profits were also weighed down by increased depreciation related to plant and equipment purchases to support the company's Bengalla growth project and the ramp-up of the New Acland mine.

The company said it expects thermal coal prices to be well-supported in the medium- to long-term, driven by a supply shortfall due to ageing assets and underinvestment in new projects.

Edited by Reuters

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