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Barrick confirms per share distribution of 0.14 USD

Barrick confirms per share distribution of 0.14 USD

Barrick Gold Corporation on Thursday confirmed that the per share amount of the third and final 250 million US dollars tranche of a return of capital distribution will be paid mid-this month.

The capital distribution totalling 750 million US dollars to be paid and will be USD 0.1405058, based on the number of issued and outstanding shares as of end of last month’s record date. 

This follows the approval by shareholders at Barrick’s Annual and Special Meeting on May of the total 750 million US dollars return of capital distribution.

Also mid-month, Barrick will pay a previously declared dividend of USD0.09 per share for the third quarter of this year to shareholders of record at the close of business last month.

“The payment of the $750m return of capital distribution over the course of this year, along with our quarterly dividend payments, will result in a total cash return to shareholders of approximately $1.4 bn during the year, which represents the highest annual cash pay out to shareholders in Barrick’s history,” said Senior Executive Vice-President and Chief Financial Officer, Graham Shuttleworth.

“Even after these record annual distributions, our balance sheet remains exceptionally strong as a result of our robust operational and financial performance, leaving Barrick in a position to maintain our commitment to provide our shareholders with meaningful returns while continuing to invest in our future growth and development,” he said.

The funds to be used to pay this $250m return of capital distribution to shareholders represent a portion of the proceeds received from sale of a portion of Shandong Gold Mining, Lagunas Norte mine to Boroo Pte Ltd by 100 per cent, Morila Gold to Firefinch 40 per cent and investment interest in Shanta Gold.

In Tanzania, Barrick is a major shareholder of Twiga Minerals that manages the Bulyanhulu, North Mara and Buzwagi mines. The government of Tanzania is a minority shareholder.

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Zanzibar current account balance ...

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Author: Toronto, Thursday

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