BUZZ-Aussie coal miner New Hope soars on higher earnings, dividend

Reuters
03-18
BUZZ-Aussie coal miner New Hope soars on higher earnings, dividend

** Shares of Australia's New Hope Corporation NHC.AX gain 8.7% to A$4.02; set for strongest trading session since June 8, 2023

** The coal miner reports HY earnings of A$340.3 mln ($217.11 mln), higher than A$251.7 mln reported a year ago and market estimates of A$302.2 mln

** Lifts interim dividend to 19 Australian cents/share, from 17 Australian cents apiece last year

** Announces share buyback program of A$100 mln

** Total coal sales for six months rises 44% to 5.4 mln metric tons, driven primarily by a significant increase in output at the New Acland mine in Queensland

** Stock down 20.6% YTD

($1 = 1.5674 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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