Oceana has continued in its drive to strengthen its balance sheet, with total debt repayment of $US77.4 million ($NZ102.9 million) made during the year, and also increasing its cash in hand, from $US25 million to $US51.2 million.
Oceana will pay a US4c dividend per share, equating to a $US12 million payout, with plans to pay an annual ordinary dividend of US2c in future.
Oceana shares rose more than 5% on opening, to trade around $2.84, after the announcement yesterday.
The dividend took analysts at Craigs Investment Partners and Forsyth Barr by surprise, as most gold companies rely on share price capital gains as the main attraction to investors.
Total revenue for the calendar year was up 2%, from $US553.6 million in 2013 to $US563.3 million in 2014, while profit rose from a $US47.9 million loss, to a $US111.5 million gain for 2014.
The company's crucial cash costs to produce gold remain some of the lowest in the world, at $US418 per ounce, while the new accounting standard of ''all-in sustaining costs'' was $US785 per ounce, both of which include the sale of by-product copper from the Philippines, which offsets the gold costs.
While the majority of gold still comes from Oceana's New Zealand operations at Macraes in East Otago and Reefton on the West Coast, Oceana is now describing its northern Philippines mine, Didipio, as its ''flagship operation''.
Didipio started production in April 2013 and has a mine life estimate out to 2030, but in New Zealand the Reefton operation is scheduled for mothballing by the end of this year, with operations at Macraes to be wound down by the end of 2017.
Oceana's chief executive, Mick Wilkes, said the dividend follows another strong year of financial and operational performance, having achieved record annual revenue and earnings and generated significant free cash flow.
''Despite the lower gold price over the past two years, the company has strengthened the balance sheet through repayment of nearly $US150 million in debt while increasing our cash position,'' he said in a statement.
Craigs broker Peter McIntyre said it was a strong result, and the dividend was a total surprise.
''Didipio is steadily growing, but the question is whether it's growing fast enough to offset the loss of production from New Zealand,'' he said.
Oceana was positioning itself well, but had to continue to explore other options, such as its stake in a development mine in El Salvador, he said.
Forsyth Barr broker Andrew Rooney said the result was ''good'' and in line with expectations; the most notable feature the surprise US4c dividend, and that the board expects to pay an ordinary dividend of US2c annually.
Whilst earnings before interest, tax, depreciation and amortisation (ebitda) were down 9% at $US238.9 million, 2013 had been a record year with higher gold prices.
Mr Wilkes forecast production for calendar 2015 of 295,000 to 335,000 oz of gold, from New Zealand and Didipio, the latter expecting to produce 21,000 to 23,000 tonnes of copper.
