Barrick Gold (GOLD) Raises Quarterly Dividend 40% to $0.07; 0.3% Yield

Barrick Gold (NASDAQ: GOLD) declared a quarterly dividend of $0.07 per share, or $0.28 annualized. This is a 40% increase from the prior dividend of $0.05. The dividend will be payable on March 16, 2020, to stockholders of record on February 28, 2020, with an ex-dividend date of February 27, 2020. The annual yield on the dividend is 0.3 percent.

Senior executive vice-president and chief financial officer Graham Shuttleworth said this was the third dividend increase this year and reflected the excellent performance for the year and Barrick’s profitability and financial strength.

“The board believes the dividend increase is justified by the significant reduction in net debt and strong balance sheet, together with the growth in free cash flow supported by a robust 5-year plan which we have shared with the market,” said Shuttleworth.

“At the time the Barrick-Randgold merger was announced, the Q3 2018 dividend was 3 cents per share, which was subsequently increased to 4 cents for Q1 2019 after the merger, then increased to 5 cents for Q3 2019 on the back of our strong operating performance, and now to 7 cents for Q4. This is consistent with the company’s stated financial and operating objectives and in line with the commitment to shareholder returns made when the merger with Randgold was announced on September 24, 2018.”

For a dividend history and other dividend-related data on Barrick Gold (GOLD) click here.

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