Investor Centre / 2022 Annual Report
This year, Newcrest progressed the delivery of its five-year plan for creating a brighter future for people through safe and responsible mining.
We recorded a strong financial and operational performance in FY22 and made significant advances in our global organic growth portfolio. This performance was achieved alongside a continued focus on the safety and wellbeing of both our workforce and the communities in which we operate. Issues around the world – supply chain interruptions, inflationary cost pressures, and the ongoing COVID-19 pandemic – presented challenges that required the resilience and commitment of our people to produce this year’s solid achievements.
Consistent with our commitment to disciplined capital management, and noting the results delivered by the company, the Board determined a final dividend of US 20 cents per share, amounting to total dividends of US 27.5 cents per share for FY22. This means Newcrest has returned $240 million to shareholders over the past 12 months, and some $1 billion since July 2019. The company continues to have a robust balance sheet and the ability to invest in value-creating opportunities that support returns for shareholders, even in the current environment that features global inflationary pressures.
We remain comfortably within all of our key financial policy targets, including our leverage and gearing ratios, whilst retaining our investment grade credit ratings.
Safety is a core component of what we do and has again been a major priority for Newcrest. We have not had a fatality for seven years, as a result of our team’s relentless focus on ensuring every person returns home safely after every shift. However, we will not be complacent with what has already been achieved as we continue to deliver new initiatives to enable our people to feel safe, valued and respected in their workplaces.
The work undertaken in recent times by the Australian Human Rights Commission and a Western Australian parliamentary committee shines a light on the critical need for the mining sector to step up in tackling sexual assault and sexual harassment in our industry. We know this is a serious issue in our society and sector, and we do not pretend to be immune. In 2021, we established a Respect@Work program to strengthen our approach and we remain determined to prevent any incidences of sexual assault or harassment in our workplace.
We understand that our business thrives when the communities around our operations thrive. Many of these communities are in remote locations and were deeply impacted by the COVID-19 pandemic. Our dedicated support fund was established to assist communities near our operations with their preparations and response to the pandemic. This has resulted in Newcrest contributing to local communities by funding 67 initiatives, from upgrades to community health facilities in Papua New Guinea and medical equipment for the first intensive care unit in Ecuador’s Zamora Chinchipe province, through to food and household goods hampers in Canada – where lockdowns impacted food security – and local business and student support in Australia. We also provided support for vaccine rollouts in multiple countries.