Mr. Mark Bristow reports
BARRICK INCREASES DIVIDEND 40% FOR Q4 2019
Barrick Gold Corp.'s board of directors has declared a dividend for the fourth quarter of 2019 of seven cents per share, a 40-per-cent increase on the previous quarter's dividend, payable on March 16, 2020, to shareholders of record at the close of business on Feb. 28, 2020.
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 five-year plan, which we have shared with the market," said Mr. Shuttleworth.
"At the time the Barrick-Randgold merger was announced, the Q3 2018 dividend was three cents per share, which was subsequently increased to four cents for Q1 2019 after the merger, then increased to five cents for Q3 2019 on the back of our strong operating performance, and now to seven 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 Sept. 24, 2018."
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