Barrick Gold's Q3 Dividend Announcement
All amounts expressed in US dollars.
Barrick Gold Corporation (NYSE: GOLD)(TSX: ABX) has recently made a significant announcement regarding its financial strategy. Declaring a dividend of $0.10 per share for the third quarter, Barrick continues to adhere to its Performance Dividend Policy established in early 2022. This decision reflects the organization's ongoing commitment to delivering value to its shareholders while managing its resources prudently.
Share Buyback Program Update
Alongside the dividend declaration, Barrick has also disclosed the repurchase of an additional 4.725 million shares during the third quarter. This initiative is part of a larger $1 billion share buyback program that was initiated in February. With this latest buyback, Barrick has now repurchased a total of 7.675 million shares in the current year, showcasing its confidence in the company’s growth trajectory and market valuation.
Strong Financial Position
Graham Shuttleworth, Barrick's senior executive vice-president and chief financial officer, commented on the robustness of the company’s financial position. He pointed out that the organization has been able to maintain a strong balance sheet, aided by record high gold prices and a solid portfolio of global gold and copper assets. This financial strength places Barrick in a position to distribute a generous dividend while retaining sufficient liquidity to fuel future growth initiatives and conduct share repurchases at attractive valuations.
Outlook for Shareholders
The announcement of the Q3 dividend and concurrent share buyback program signals a positive outlook for Barrick Gold's shareholders. As the company navigates the fluctuating market landscape, these moves suggest a commitment to returning value to shareholders. Investors can look forward to the upcoming dividend, set to be paid on December 16 to those on record as of November 29, emphasizing Barrick's dedication to its investors.
Contact Information for Inquiries
For any inquiries related to this announcement, shareholders and interested parties can reach out to:
Mark Bristow
President and CEO
Phone: +1 647 205 7694
International: +44 788 071 1386
Graham Shuttleworth
Senior EVP and CFO
Phone: +1 647 262 2095
International: +44 779 771 1338
Kathy du Plessis
Investor and Media Relations
Phone: +44 20 7557 7738
Email: barrick@dpapr.com
Frequently Asked Questions
What is Barrick Gold's Q3 dividend amount?
Barrick Gold has declared a dividend of $0.10 per share for the third quarter.
When will the Q3 dividend be paid?
The Q3 dividend will be paid on December 16 to shareholders of record as of November 29.
How many shares did Barrick repurchase in Q3?
In the third quarter, Barrick repurchased an additional 4.725 million shares.
What is the total number of shares repurchased this year?
To date, Barrick has repurchased a total of 7.675 million shares in 2024.
Who can shareholders contact for more information?
Shareholders can contact Mark Bristow or Graham Shuttleworth for inquiries, with their details listed above.
