Evolution Raised Its Dividend. Investors Wanted More
Dow Jones
Aug 19
0113 GMT - While Evolution Mining raised its final dividend by 62% to a record high, "the market was looking for more," says Macquarie. The FY payout of 41 Australian cents a share, while a 2% beat versus Macquarie's expectations, is a 5% miss to consensus, the bank notes. FY27 guidance is also soft due to lower-than-anticipated forecast copper output and higher-than-anticipated all-in sustaining costs, it says. Macquarie has a neutral rating and A$11.50/share target on Evolution. Shares are up 0.6% at A$13.73, after initially falling as low as A$13.16.
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