Deterra Royalties sees 1% rise in full-year profit but cuts dividend

The news: Resource royalties investment company Deterra Royalties achieved a 1% uptick in full-year net profit after tax to $155.7 million, as record volumes from its cornerstone asset Mining Area C (MAC) in the Pilbara offset lower realised iron ore prices.

The result was up from the $154.9 million reported last year, and above market estimates of $154.3 million, according to Visible Alpha data.

Underlying earnings came in at $250.1 million, up 10% compared to the $227.9 million reported in the previous year. Market expectations were $236.1 million.

The company declared dividends of 22 cents per share throughout FY25, lower than last year's total payout of 29.30 cents per share, but meeting analysts' expectations.