Newmont Declares Quarterly Dividend of $0.05 per Share
February 16 2017 - 7:43PM
Business Wire
Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company)
announced its Board of Directors declared a quarterly dividend of
$0.05 per share of common stock, payable on March 23, 2017, to
holders of record at the close of business on March 9, 2017.
This is the first dividend payable under the Company’s enhanced
gold price-linked dividend policy which was approved in the fourth
quarter of 2016 and came into effect in the first quarter of 2017.
The dividend of $0.05 per share is double the dividend paid in the
prior year quarter.
Newmont's gold price-linked dividend policy includes a quarterly
payable dividend based on the average LBMA P.M. Gold Price for the
preceding quarter. The policy includes a minimum $0.10 per share
($0.025 per quarter) payout at gold prices below $1,150 per ounce.
The dividend increases to $0.15 per share ($0.0375 per quarter) at
gold prices of $1,150 per ounce. At $1,200, the dividend increases
to $0.20 per share ($0.05 per quarter). For each $50 increase above
$1,200 per ounce the dividend increases by a further $0.10 per
share ($0.025 per quarter). At $1,400, $1,500 and $1,600 per ounce,
the dividend increases to $0.60, $0.85 and $1.10 per share ($0.15,
$0.2125 and $0.275 per quarter), respectively.
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 Board.
Cautionary Statement:
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbor created by such
sections and other applicable laws. Such forward-looking
statements may include, without limitation, statements relating to
future dividend payments, future gold prices, future ability to
generate free cash flow at reduced prices, and future shareholder
value and returns. Investors are cautioned that the gold price
linked dividend policy is non-binding. The declaration and payment
of future dividends remain at the discretion of the Board of
Directors and will be determined based on Newmont’s financial
results, balance sheet strength, cash and liquidity requirements,
future prospects and other factors deemed relevant by the Board.
The Board of Directors reserves all powers related to the
declaration and payment of dividends. Consequently, in determining
the dividend to be declared and paid on the common stock of the
Company, the Board of Directors may revise or terminate such policy
at any time without prior notice. As a result, investors should not
place undue reliance on such policy or guidelines.
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version on businesswire.com: http://www.businesswire.com/news/home/20170216006425/en/
Newmont Mining CorporationInvestor
ContactsMeredith Bandy,
303-837-5143meredith.bandy@newmont.comorMedia
ContactOmar Jabara, 303-837-5114omar.jabara@newmont.com
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