News: NHC UPDATE 1-Australian miner New Hope quadruples dividend, posts profit on surging coal...

(Adds dividend details, background)

March 22 (Reuters) - Australian coal miner New Hope Corp (NHC) on Tuesday announced a four-fold jump in its interim dividend payout coupled with a special dividend, while posting a half-year profit helped by surging prices of thermal coal in its key markets.

Coal producers in Australia are in high demand over the past two weeks from countries like Poland which have been reliant on Russian supply, with New Hope examining similar opportunities to supply European markets.

New Hope said it is expecting demand for high quality, lower emission thermal coal to remain strong in the short- to medium-term as supply remains constrained and ongoing shortage is expected to keep prices at levels not previously experienced.

Australian coal producers stand to reap the benefits of soaring prices even as the upheaval caused by Russia's invasion of Ukraine are challenging coal production and transportation.

The Brisbane-based miner declared a fully franked interim dividend of 17 Australian cents per share, far higher than the 4 Australian cents per share it paid a year earlier. The miner also declared a fully franked special dividend of 13 Australian cents per share.

The company posted a profit attributable to shareholders of A$330.4 million ($244.23 million) for the six months ended Jan. 31, compared with a loss of A$55.4 million a year earlier.

($1 = 1.3528 Australian dollars)