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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 210,189,007
Close 2019-11-11 C$ 60.39
Recent Sedar Documents

FP/wire say Barrick, others giving investors back more

2019-11-11 07:01 ET - In the News

See In the News (C-ABX) Barrick Gold Corp

The Financial Post reports in its Saturday edition that Barrick Gold pleasantly surprised the market by raising its dividend 25 per cent. A Bloomberg dispatch to the Post asks whether the move will portend a new era of largesse from tight-fisted gold miners. There are certainly reasons for investors to be hopeful. Producers have been striving to cut costs and consolidate operations, while the price of gold has climbed over 20 per cent in the past year. Barrick's move Wednesday was echoed a few hours later when Kirkland Lake Gold raised its quarterly payout 50 per cent. B2Gold preceded both by announcing its first-ever dividend a day earlier. "The companies are positioned to start to pay dividends and give more back to shareholders," Joe Foster, a portfolio manager and strategist at Vaneck, told Bloomberg. "It happens to coincide with the rising gold price, so you're getting to see more aggressive moves on the dividends front than we would have seen if gold was $100 or $200 lower." Gold miners trimmed costs following the sharp decline of the metal's price toward the start of the decade. Barrick and B2Gold are both expecting costs this year to come in at or below the lower end of company guidance.

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