S&P/ASX 200 Index (ASX: XJO) gold shares recently all reported their full 2022 financial year (FY22) results or half-year results.
And to get straight to the point, all five of them paid a final or interim dividend.
But income investors should bear in mind that ASX 200 gold shares are cyclical by nature. They generally see revenues and profits increase when gold prices rise and fall when the yellow metal slips.
That means that their dividend payouts can likewise be cyclical in nature.
Bullion hit highs of US$2,050 per ounce on 8 March this year and has since retraced to the current US$1,750 per ounce.
Should the gold price increase over the coming year, ASX 200 gold shares are likely to pay out higher dividends. Should bullion drop, dividend payouts from the big miners will likely take a hit.
With that said…
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What kind of dividends do the biggest two ASX 200 gold shares pay?
We'll start with the biggest of the ASX 200 gold shares, Newcrest Mining Ltd (ASX: NCM), with a market cap of $15 billion.
Newcrest pays a 2.3% trailing dividend yield, fully franked.
In its FY22 results, Newcrest reported US$872 million in underlying profit, down 25% year on year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) were also down 16% to US$2.05 billion.
The gold miner paid a final dividend of 20 US cents per share, half its final dividend payout in FY21.
Moving on, Northern Star Resources Ltd (ASX: NST), Australia's second biggest gold miner, has a market cap of $8.4 billion.
Northern Star pays a trailing dividend yield of 2.9%, fully franked.
In its FY22 results, the miner reported a 35% year-on-year increase in total revenue up to $3.74 billion. Despite the total revenue boost, underlying net profit after tax (NPAT) dropped 27% to $273 million.
Northern Star declared a final dividend of 11.5 cents per share, down 43% from the final dividend paid in FY21.
Three other top gold stocks paying dividends
Working our way down the list to the third biggest ASX 200 gold share, Evolution Mining Ltd (ASX: EVN) has a market cap of $3.9 billion. The gold explorer and producer pays a fully-franked trailing dividend yield of 2.7%.
Evolution's FY22 results revealed a 22% year-on-year decrease in underlying NPAT to $274.7 million. That's despite an 11% increase in total revenue to $2.06 billion
Evolution declared a final fully-franked dividend of 3 cents per share, down from 5 cents per share in FY21.
Our number four ASX 200 gold share, Perseus Mining Limited (ASX: PRU) has a market cap of $2 billion.
Perseus pays a trailing dividend yield of 1.5%, unfranked.
Unlike its bigger cousins, in its FY22 results Perseus reported a 66% year-on-year increase in revenue, to $1.13 billion, and record NPAT from ordinary activities of $280 million, up 101% from FY21.
Perseus declared a final dividend of 1.64 cents per share.
Leaving off with the smallest of the ASX 200 gold shares, Gold Road Resources Ltd (ASX: GOR) has a market cap of $1.4 billion.
Gold Road pays a trailing dividend yield of 1.2%, fully franked.
The company reported some strong half-year results, with a 109% boost in NPAT to $40 million. Revenue was up by 51.6% to $197 million.
This saw the miner double its interim dividend payout from the prior corresponding period to 1 cent per share.
