Barrick Declares Dividend

Rhea-AI Summary

Barrick Gold Corporation (NYSE:GOLD) declared a dividend of US $0.08 per share for Q2 2020, a 14% increase from the previous quarter. This dividend will be payable on September 15, 2020 to shareholders on record as of August 31, 2020. Senior EVP Graham Shuttleworth attributed the increase to Barrick's strong financial performance, noting a liquidity of $6.7 billion with $3.7 billion in cash and no significant debt repayments until 2033.

Positive

• Dividend increased by 14%, now at $0.08 per share.
• Total liquidity of $6.7 billion supports sustainability.
• Strong financial performance post-Barrick-Randgold merger.

Negative

• None.

TORONTO, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that its Board of Directors has declared a dividend for the second quarter of 2020 of US $0.08 per share, a 14% increase on the previous quarter’s dividend, payable on September 15, 2020, to shareholders of record at the close of business on August 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 Shuttleworth.

Enquiries:

President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

Senior EVP and CFO
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

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¹ The declaration and payment of dividends is 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. 

FAQ

What is the dividend amount declared by Barrick Gold for Q2 2020?

Barrick Gold declared a dividend of US $0.08 per share for Q2 2020.

When will Barrick Gold's dividend be paid?

The dividend will be paid on September 15, 2020.

What date is the record for Barrick Gold's dividend payment?

Shareholders must be on record by August 31, 2020.

How has Barrick Gold's dividend changed since the Randgold merger?

The dividend has more than doubled since the Barrick-Randgold merger in September 2018.

What is Barrick Gold's current cash balance?

Barrick Gold has a cash balance of $3.7 billion.