Gold miner Regis Resources has unveiled a new capital management policy as it posted record half-year earnings and cash flow, declaring a fully franked interim dividend of 15c a share.

For the first half of the 2026 financial year, the company reported statutory net profit after tax of A$323-million, up A$235-million year-on-year, on the back of record earnings before interest, taxes, depreciation and amortisation (Ebitda) and cash generation.

Gold sales revenue rose 40% to A$1.09-million from 182 327 oz sold at an average realised price of A$5 968/oz. Ebitda increased 73% to A$621-million, delivering an Ebitda margin of 57%, while cash flow for the half reached a record A$413-million.

Cash and bullion stood at A$930-million as at December 31, 2025, up A$413-million over the six months.

CEO and MD Jim Beyer said the result reflected both operational consistency and strong gold market conditions.

“Regis has delivered an outstanding financial result for the first half of FY26. The operational performance has increased the financial strength of our business translating to record Ebitda, NPAT and cash flow.

"Operational performance was in line with our plans and we continued to sell all our gold into record spot gold prices, generating exceptional growth in cash and bullion. The significant uplift in net profit after tax to A$323-million, demonstrates the strong profitability of our business.

"Looking to the remainder of the financial year, we remain on track to deliver in line with guidance and in the prevailing gold price environment, we expect to see another period of significant cash generation and profitability.”

Gold production for the half totalled 186 917 oz at an all-in sustaining cost (AISC) of A$2 850/oz. FY26 production and AISC guidance remain unchanged, although exploration expenditure guidance has been lifted by A$20-million following drilling success across the portfolio.

Alongside the financial results, the board announced a new capital management policy aimed at formalising the framework for shareholder returns.

The policy provides for fully franked ordinary dividends to be paid on a semi-annual basis, having regard to prevailing cash and bullion balances, cash flows, taxation obligations, reinvestment options, external growth opportunities, balance sheet strength and available franking credits.

Ordinary dividend payments are expected to represent between 25% and 50% of the group cash increase over the preceding half financial year. Group cash increase is defined as the rise in cash and gold bullion balances over the period, after adding back dividends paid and adjusting for any current income tax liability accrued.

The board retains discretion to declare a dividend even where there has been, or is expected to be, a net cash outflow due to significant investment. Should cash balances exceed strategic requirements over time, special dividends and/or share buy-backs may also be considered.

In addition, the board will consider whether to activate the dividend reinvestment plan for future distributions.

Beyer said the new framework formalises the company’s approach to balancing growth and returns.

"With this policy in mind and the strong operational and financial performance for the first half of 2026, the board declared a fully franked final dividend of 15 cents per share totalling A$114-million and bringing the total returns to shareholders to nearly A$700-million since 2013.”