Guess which ASX 200 share just doubled its latest dividend

This gold stock just upped its interim dividend by 100%.

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Key points
  • ASX 200 gold share declares a 1-cent interim dividend – marking a 100% year-on-year increase
  • And the company behind the dividend is ASX 200 gold producer Gold Road Resources
  • The stock will trade ex-dividend on Monday

Searching for an S&P/ASX 200 Index (ASX: XJO) share posting soaring dividends this earnings season? Look no further than under-the-radar ASX 200 gold share Gold Road Resources Ltd (ASX: GOR).

The stock just declared its latest interim dividend and, to the likely surprise of onlookers, it's worth double the payout offered by the company this time last year.

The Gold Road share price is lifting 1.39% right now to trade at $1.27. For context, the ASX 200 is down 0.25% at the time of writing, leaving the share outperforming.

So, without further ado, take a closer look at the latest dividend from the $1.3 billion gold producer.

A woman blowing gold glitter out of her hands with a joyous smile on her face.

Image source: Getty Images

ASX 200 gold share doubles interim dividend

The ASX 200 gold giant dropped its earnings for the six months ended 30 June yesterday, and they included a welcome offering for investors.

The company declared a 1-cent interim dividend – representing a 100% year-on-year increase.

And making it even more tempting, the payout is fully franked. That means it could bring additional benefits to investors at tax time.

News of the dividend was released alongside word of the company's surging half-year profit.

Gold Road posted a $39.9 million net profit after tax (NPAT) for the first half – 108.9% higher than that of the prior corresponding period.

Its revenue also lifted 51.6% to $196.5 million. While its earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 67.8% to $100 million.

Shares in the ASX 200 company will trade ex-dividend on Monday. The payment will begin to hit investors' accounts from 4 October.

On top of its first-half earnings, the company also revealed its optimistic outlook. It expects to reach its full-year guidance.

That would see its 50%-owned Gruyere mine producing between 300,000 ounces and 340,000 ounces of gold at an all-in sustaining cost of between $1,270 an ounce and $1,470 an ounce over the course of 2022.  

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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