All figures in US dollars
TORONTO, ONTARIO - May 2, 2012 (Investorideas.com Mining stocks newswire) 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 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.
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.
(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.
Contact Information
INVESTOR CONTACT: Greg Panagos
Senior Vice President
Investor Relations and Communications
(416) 309-2943
gpanagos@barrick.com
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