Perseus managing director Jeff Quartermaine told a conference call the company's rationale for henceforth linking dividends to its share price (as per a 1% yield), was based on its ambition for shareholders to be able "to rely on us to pay a consistent dividend".

Capital markets firm Argonaut described the dividend policy as "novel".

"By intending to pay out 1% of its market cap each year back to shareholders Perseus delegates some power to the market, and says it's a deliberate show of confidence," Argonaut said.

Perseus' earnings in the 2020/21 passed $300 million (on an EBITDA basis), an increase of 11% on the previous year.

Cash and bullion at year-end totalled $207.9 million, or $74.7 million, net of $133.2 million of outstanding debt.

Production this calendar year is expected to be between 416,247 ounces and 446,247oz at all-in site costs of US$975-1035/oz.

The aim is to produce more than 500,000oz in fiscal 2022.

Shares in Perseus were down 1% to A$1.45 in morning trade, capitalising the company at $1.78 billion.