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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,593,272
Close 2018-10-31 C$ 16.49
Market Cap C$ 19,253,613,055
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Globe/wire say Barrick, Rangold raise dividends

2018-11-01 08:11 ET - In the News

The Globe and Mail reports in its Thursday edition that Barrick Gold and takeover target Randgold Resources are boosting their dividend payouts ahead of shareholder votes next week on their $6.1-billion deal (all figures U.S.). A Reuters dispatch to The Globe says that Barrick's all-stock purchase of the African miner, announced in September, spurred some analyst criticism because it lacked a premium for Randgold, which has a record of strong operational and financial performance. Randgold plans to sweeten its 2018 dividend by 35 per cent, to $2.69 a share from $2, and pay it before the merger closes. The boost reflects Randgold's financial performance year-to-date and dividend policy, Barrick said in a statement. Scotiabank analyst Tanya Jakusconek said she was unsurprised by the boost, because the reduced dividend outlook was a key concern of Randgold shareholders, but noted that the increase is essentially "just a minor tweak." While Randgold requires 75 per cent of votes in support of the deal, Ms. Jakusconek said in a note to clients that she expects the transaction to proceed, citing the companies' share outperformance, tight trading spread and positive recommendations from leading proxy advisory firms.

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