Shares in Evolution Mining were firmer after the company announced it would pay a maiden unfranked dividend of one cent a share despite posting a bottom line loss of $307 million on impairments.
The gold miner reported an underlying profit of $44.4 million on revenue of $605 million, up 29 per cent on the previous year, on production of 392,920 ounces, up 40 per cent.
Executive chairman Jake Klein described it as solid result considering the falling gold price during the second half of the year and industry-wide cost pressures over most of the year.
"The peak of our capital spend is now behind us and our mine plans offer considerable flexibility that positions us well for what we see as a transformative and exciting phase in the Australian gold sector," he said.
"Evolution is in a strong financial position and we are confident of achieving production and cash cost guidance in the coming year."
Evolution is forecasting full-year 2014 production of between 400,000-450,000 ounces of gold equivalent at average cash costs of $770-$820 an ounce, similar to 2013.The company's shares were up 3.5 cents, or 3.89 per cent, to 93.5 cents at 11.50am.