Pilbara Minerals share price charging higher on maiden dividend

ASX 200 investors are bidding up the company's share price on the back of some very strong half-year results.

| More on:
Female South32 miner smiling with mining machinery in the background.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The Pilbara Minerals share price is up around 5% 
  • The ASX 200 lithium miner reported its half-year results today
  • With profits surging, Pilbara’s board declared the company’s inaugural dividend payment

The Pilbara Minerals Ltd (ASX: PLS) share price is up 4.8% in afternoon trade on Friday. Shares are currently swapping hands for $4.69 apiece.

This comes following a 5.1% gain yesterday for the S&P/ASX 200 Index (ASX: XJO) lithium stock.

Investors are bidding up the Pilbara Mineral share price following some very strong half-year results, released after market close yesterday.

Here's what's drawing investor interest.

What did the ASX 200 lithium stock report?

Pilbara Minerals reported growth across all the major financial metrics.

The miner's spodumene concentrate production increased 83% from the first half of the 2022 financial year. This helped drive a 305% increase in revenue, which reached $2.2 billion.

Statutory net profit after tax (NPAT) leapt 989% from the prior corresponding half-year to $1.2 billion. The profit for the company's half-year represents earnings per share (EPS) of 41.59 cents.

And the company strengthened its balance sheet to the tune of $1.6 billion, reporting a 31 December cash position of $2.2 billion.

"The stage is set for Pilbara Minerals to take massive growth steps in the months and years ahead. This is just the beginning," a clearly pleased CEO, Dale Henderson said.

On the back of these strong results, and offering tailwinds to the Pilbara Minerals share price today, the board also declared its first-ever dividend of 11 cents per share, fully franked.

Pilbara Minerals shares trade ex-dividend on 2 March. If you own shares before then, you can expect payment on 24 March. At the current share price, the maiden dividend gives the company a trailing yield of 2.4%.

Mineral Resources Ltd (ASX: MIN) is the only ASX 200 lithium stock that pays a higher trailing yield, currently at 2.6%.

Pilbara Minerals share price snapshot

With today's intraday gains factored in the Pilbara Minerals share price – pictured below – is up 79% over the past 12 months.

Motley Fool contributor Bernd Struben 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.

More on Earnings Results

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Earnings Results

ASX 200 stock jumps 10% on strong FY24 results

How did this KFC restaurant operator perform in FY 2024?

Read more »

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.
Consumer Staples & Discretionary Shares

Guess which ASX 200 stock just slashed its final dividend by 23%

This retailer had a tough time during the 12 months. Here's how it performed.

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Earnings Results

Catapult shines: 20% sales growth propels ASX tech stock to new 52-week high

A strong annual result from this tech player has caught investor attention.

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Earnings Results

Xero share price leaps 8% on staggering earnings upheaval

A major turnaround in profitability is sending investors into a frenzy over Xero shares today.

Read more »

a construction worker sits pensively at his desk with his arm propping up his chin as he looks at his laptop computer while wearing a hard hat and visibility vest in a bunker style construction shed.
Materials Shares

Which ASX 200 stock just plunged 12% despite record full-year earnings?

It looks like an impressive report card but UBS doesn't like the FY25 guidance.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Earnings Results

ASX 200 tech stock lifts off on another record-setting half-year profit

Investors are bidding up the ASX 200 tech company following its half-year results.

Read more »

increasing rural asx share price represented by happy looking sheep
Earnings Results

Why is this ASX All Ords stock staying strong as profits crash 76%

How is this company's share price marching higher after mowing down more than three-quarters of its profits compared to a…

Read more »

Two men sit side by side on a couch with video game controls in their hands and expressive looks on their faces as they react to the action in front of them in a home setting.
Earnings Results

Guess which ASX 200 stock is surging 11% on an 'outstanding' result

This ASX gaming giant just posted a 17% jump in profits, and its shareholders are basking in the glory.

Read more »