11:56 AM EDT, 08/28/2025 (MT Newswires) -- (Updates shares.)

Westgold Resources ( WGXRF ) late on Wednesday reported a drop in earnings per share in fiscal 2025 despite a 90% increase in revenue.

Earnings per share was $3.85, declining from $20.11. Revenue was $1.36 billion, an increase from $716 million. Adjusted EBITDA also rose to $498 million from $271 million.

Gold sales amounted to 308,979 ounces, rising from 227,691 ounces.

Separately, the company declared a final dividend of $0.03 for fiscal 2025. The total dividend of $28.3 million represents a dividend payout ratio of 78% and will be paid out on Oct. 10.

The Westgold board has elected to update and enhance the company's dividend policy to increase the minimum dividend per share from $0.01 to $0.02. The required minimum net cash balance was also increased from $100 million to $150 million after the payment of any dividend.

The board also approved an share buyback program of up to 5% of its ordinary shares over the next 12 months.

Under the share buyback program, the company proposes to acquire up to 47.2-million shares, subject to prevailing share prices and market conditions.

Westgold shares were last seen up $0.075 to $3.08 on the Toronto Stock Exchange.

Price: 3.08, Change: +0.08, Percent Change: +2.67