Whitehaven Coal (ASX:WHC) has announced it will distribute a final dividend of 42 AU cents per share.

The Australian-based coal company’s financial year revenue has reported to be A$6.06 billion, a significant uplift from the previous year’s A$4.92 billion.

Whitehaven Coal’s net profit after tax for the financial year saw an impressive surge of A$2.67 billion, showing a marked increase from A$1.95 billion.

In the foreseeable future, the company anticipates policy formulation and tight or expensive capital conditions to continue to hinder new supply.

Whitehaven Coal also highlighted that prices in the metallurgical coal markets have remained strong in 2022 and 2023 and are expected to continue around these levels in the near future.

Indeed, the company is anticipating a supply deficit in metallurgical coal in the coming decade.

Additionally, the company noted that the impact of China’s influence on the seaborne metallurgical coal market has tempered in the short term.

Whitehaven Coal (ASX:WHC) is a prominent player in the coal mining industry, focusing on the development and operation of coal mines in New South Wales.