Mr. Mark Bristow reports

BARRICK DECLARES DIVIDEND

Barrick Gold Corp. has declared a dividend for the second quarter of 2020 of eight U.S. cents per share, a 14-per-cent increase on the previous quarter's dividend, payable on Sept. 15, 2020, to shareholders of record at the close of business on Aug. 31, 2020 (1).

Senior executive vice-president and chief financial officer Graham Shuttleworth said that Barrick's quarterly dividend has more than doubled since the announcement of the Barrick-Randgold merger in September, 2018, reflecting Barrick's continued strong financial performance.

"The board believes that the dividend increase is sustainable and is reflective of the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet, with total liquidity of $6.7-billion, including a cash balance of $3.7-billion as of the end of the second quarter, and no material debt repayments due before 2033," said Mr. Shuttleworth.

(1) The declaration and payment of dividends are at the discretion of the board of directors, and will depend on the company's financial results, cash requirements, future prospects and other factors deemed relevant by the board.