Barrick Declares Q4 Dividend
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Insights
The declaration of a dividend of $0.10 per share for the fourth quarter of 2023 by Barrick Gold Corporation aligns with the company's previously announced Performance Dividend Policy. This reflects a stable payout, which is a significant indicator of the company's financial health and its ability to generate cash flow. Investors often view consistent dividends as a sign of a company's financial stability and a commitment to returning value to shareholders.
However, dividends are just one aspect of shareholder return and they need to be evaluated in the context of the company's overall financial performance, including revenue, profit margins and growth prospects. In the case of Barrick Gold, the dividend announcement should be weighed against the backdrop of gold market dynamics, the company's operational efficiency and its growth projects. The impact of this dividend on the stock price may be moderate, as it represents a continuation of existing policy rather than a new development.
From a market research perspective, it's important to note that Barrick Gold's dividend policy may influence investor perception, particularly among income-focused investors. The gold industry is often seen as a 'safe haven' during times of economic uncertainty and a steady dividend can enhance the attractiveness of a gold mining stock. Additionally, the company's emphasis on maintaining liquidity while investing in growth projects suggests a balanced approach to capital allocation, which could be reassuring to investors concerned about the sustainability of dividends amidst capital-intensive expansion.
It is essential to monitor commodity prices, as the price of gold can significantly affect mining companies' profitability. Any fluctuations in gold prices could alter the risk assessment of Barrick's ability to maintain its dividend in the future, which is a critical factor for long-term investors.
An economist's viewpoint would consider the broader economic implications of Barrick Gold's dividend declaration. Dividends can have a ripple effect on the economy by providing shareholders with additional income, which can lead to increased consumer spending and investment. Furthermore, the company's financial performance and its ability to pay out dividends are influenced by macroeconomic factors such as interest rates, inflation and global economic growth. These factors can affect gold prices and, consequently, the profitability of gold mining companies.
Examining the company's strategy and financial statements in relation to economic trends could provide insights into its resilience to economic cycles and its capacity to maintain dividend payments during different market conditions.
All amounts expressed in US dollars
TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today announced the declaration of a dividend of
The Q4 2023 dividend will be paid on March 15, 2024 to shareholders of record at the close of business on February 29, 2024.
“The performance of our business and the continued strength of our balance sheet allowed us to maintain the distribution of a robust dividend to our shareholders in 2023, whilst still ensuring Barrick has adequate liquidity to invest in our significant growth projects,” said senior executive vice-president and chief financial officer Graham 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
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “will”, “perform”, “allow”, “maintain”, “ensure”, “growth”, “potential”, “would”, “could” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Barrick’s operating and financial performance, liquidity available to invest in growth projects, and the potential for Barrick to deliver enhanced dividends to shareholders under its Performance Dividend Policy.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; assumptions relating to the trading price of the Company’s common shares; changes in mineral production performance, exploitation, and exploration successes; disruption of supply routes which may cause delays in construction and mining activities at Barrick’s more remote properties; whether benefits expected from recent transactions are realized; diminishing quantities or grades of reserves; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and disruptions in the maintenance or provision of required infrastructure and information technology systems; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in the currency markets; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the jurisdictions in which the Company or its affiliates do or may carry on business in the future; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities that may be presented to, or pursued by, the Company; our ability to successfully integrate acquisitions or complete divestitures; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; risks related to the failure of internal controls; risks related to the impairment of the Company’s goodwill and assets; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
What dividend per share did Barrick Gold Corporation declare for the fourth quarter of 2023?
When will the Q4 2023 dividend be paid to Barrick Gold Corporation shareholders?
What is Barrick Gold Corporation's Performance Dividend Policy?
