Written by AZoMining
Barrick Gold Corporation today announced that, consistent
with its practice of paying a progressive dividend, the Board of Directors has
authorized a quarterly dividend of US20 cents per share, which represents a 33%
increase from the previous dividend.
Barrick's strong earnings and operating cash flows, combined with its
positive outlook on the gold price, enables the Company to continue to make high
return investments in its project pipeline and also increase its dividend. Over
the last six years, Barrick has had a consistent track record of progressively
returning more capital to shareholders, increasing its dividend by more than
260%(1) on a quarterly basis(2).
The quarterly dividend is payable on June 15, 2012 to shareholders of record
at the close of business on May 31, 2012.
Barrick's vision is to be the world's best gold company by finding,
acquiring, developing and producing quality reserves in a safe, profitable and
socially responsible manner.
(1) Calculated based on converting the 2006 semi-annual dividend of US11
cents per share to a quarterly equivalent.
(2) The declaration and payment of dividends remains 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