Barrick Gold Announces 25% Dividend Increase
October 26 2011 - 3:28PM
Marketwired
All figures in US dollars
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) today announced
that, consistent with its practice of paying a progressive
dividend, the Board of Directors has authorized a quarterly
dividend of US15 cents per share, which represents a 25% 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 five years, Barrick
has had a consistent track record of returning more capital to
shareholders, increasing its dividend by more than 170%(1) on a
quarterly basis(2).
The quarterly dividend is payable on December 15, 2011 to
shareholders of record at the close of business on November 30,
2011.
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 Board.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including
any information as to our strategy, projects, plans or future
financial or operating performance and other statements that
express management's expectations or estimates of future
performance, constitute "forward-looking statements". All
statements, other than statements of historical fact, are
forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. The Company cautions the reader that such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual financial
results, performance or achievements of Barrick to be materially
different from the Company's estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. These risks, uncertainties and other factors
include, but are not limited to: changes in the worldwide price of
gold, copper or certain other commodities (such as silver, fuel and
electricity); operating or technical difficulties in connection
with mining or development activities; the speculative nature of
exploration and development, including the risks of obtaining
necessary licenses and permits and diminishing quantities or grades
of reserves; and changes in costs and estimates associated with our
projects. Certain of these factors are discussed in greater detail
in the Company's most recent Form 40-F/Annual Information Form on
file with the U.S. Securities and Exchange Commission and Canadian
provincial securities regulatory authorities.
The Company 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.
Contacts: INVESTOR CONTACT: Deni Nicoski Vice President,
Investor Relations (416) 307-7410dnicoski@barrick.com MEDIA
CONTACT: Andy Lloyd Senior Manager, Communications (416)
307-7414alloyd@barrick.com
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