Jupiter Mines (ASX:JMS) Shares in Focus as Investors Watch Dividend

Sonal Goyal

02 September 2026 09:55 PM AEST

Jupiter Mines (ASX:JMS) Shares in Focus as Investors Watch Dividend

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Key Highlights

Jupiter Mines Limited (ASX:JMS) trades ex-dividend on 3 September 2026 for a final Dividend of 0.7 cents per share, unfranked, payable 18 September 2026
Tshipi Manganese Mine recorded full-year FY2026 sales of 3,488,925 tonnes, exceeding the historical average of 3,400,000 tonnes sold per annum
June quarter production of 966,183 tonnes increased 14% on the previous quarter and 23% on the prior year corresponding period
Tshipi EBITDA for the quarter was A$34.2 million, up 6% on the previous quarter but down 16% on the prior year corresponding period

Jupiter Mines Limited (ASX:JMS) shares are scheduled to trade ex-dividend on Thursday, 3 September 2026, ahead of the company's final dividend of 0.7 cents per share. Unlike several other companies going ex-dividend in the same week, Jupiter Mines' distribution carries 0% franking, and will be paid to eligible shareholders on 18 September 2026. The dividend follows the release of the company's Q4 FY2026 Quarterly Activities Report, covering the quarter ended 30 June 2026.

Tshipi Manganese Mine Operations

Jupiter Mines holds a 49.9% beneficial interest in Tshipi é Ntle Manganese Mining Proprietary Limited, which operates the Tshipi Manganese Mine in the Kalahari manganese field. All Tshipi information in the report is presented on a 100% basis, rather than reflecting Jupiter's 49.9% economic interest.

For the June 2026 quarter, Tshipi sold 943,740 tonnes of manganese, representing a 12% increase on the previous quarter but a 13% decrease compared with the prior year corresponding period. Total FY2026 sales reached 3,488,925 tonnes, a result the company noted exceeded its expectations and the historical average of 3,400,000 tonnes sold per annum.

Production for the June quarter was 966,183 tonnes, up 14% on the previous quarter and 23% higher than the prior year corresponding period. Cost of production was US$2.48 per dmtu FOB, a decrease of 1% on the previous quarter but an increase of 5% compared with the prior year corresponding period.

Safety Performance

The company reported zero lost time injuries (LTIs) during the quarter, with the Total Recordable Injury Frequency Rate (TRIFR) remaining stable at 0.37, unchanged from the previous quarter.

Financial Performance

Tshipi EBITDA for the June quarter was A$34.2 million, an increase of 6% on the previous quarter but a decrease of 16% compared with the prior year corresponding period. Cash held by the operation increased marginally, up 0.2% from the previous quarter end to A$129.4 million, after accounting for year-end Royalty and tax payments and Working Capital movements.

Manganese Price and Freight Environment

The June 2026 quarter saw average realised manganese prices increase to US$4.95 per dmtu CIF, up from US$4.35 per dmtu CIF in the March 2026 quarter. The Spot Price at 30 June 2026 stood at US$4.64 per dmtu CIF. By the end of July 2026, the spot price had fallen to US$4.38 per dmtu CIF, a decrease of 6% from the price recorded at the end of the June 2026 quarter, though still 5% above the four-year historical average.

Freight rates moved in the opposite direction across the reporting period. Rates for the Port Elizabeth to Tianjin route decreased to US$33.80 per tonne at the end of the June 2026 quarter, down 8% from US$36.90 per tonne at the start of the quarter. However, by the end of July 2026, freight rates had increased to US$38.70 per tonne.

Full-Year Summary

Summarising the quarter within the context of the full financial year, the company noted that FY2026 closed with a stronger finish, with both sales and production increasing quarter-on-quarter and full-year targets for both metrics exceeded. EBITDA increased quarter-on-quarter by 6%, attributed to higher manganese prices during the period. Cash increased marginally by 0.2% after accounting for year-end royalty and tax obligations along with working capital movements. Unit costs remained relatively stable at US$2.48 for the quarter, representing a 1% decrease from US$2.50 in the prior quarter.

Conclusion

Jupiter Mines' Q4 FY2026 report reflects a period of increased production and sales volumes at the Tshipi Manganese Mine, with full-year sales exceeding historical averages despite a year-on-year decline in quarterly sales tonnage and EBITDA. Movements in manganese prices and freight rates across the quarter and into July 2026 illustrate the variability the operation continues to navigate as it heads into the new financial year.

FAQs

Q: When does Jupiter Mines Ltd (ASX:JMS) trade ex-dividend?

A:Jupiter Mines shares trade ex-dividend on Thursday, 3 September 2026.

Q: What is the value of Jupiter Mines' final dividend and is it franked?

A:The final dividend is 0.7 cents per share and is unfranked (0% franking), payable on 18 September 2026.

Q: What were Tshipi's total sales for FY2026?

A:Tshipi recorded total FY2026 sales of 3,488,925 tonnes, exceeding the historical average of 3,400,000 tonnes sold per annum.

Q: How did Tshipi's June quarter EBITDA compare with the prior year?

A:June quarter EBITDA of A$34.2 million was up 6% on the previous quarter but down 16% on the prior year corresponding period.

Q: What happened to manganese spot prices after the June 2026 quarter?

A:The spot price fell from US$4.64 per dmtu CIF at 30 June 2026 to US$4.38 per dmtu CIF by the end of July 2026, a 6% decrease, though still 5% above the four-year historical average.

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