Barrick Gold reports 14% rise in dividend amid soaring gold prices, on track to achieve 2020 production guidance – by Anna Golubova (Kitco News – August 10, 2020)

https://www.kitco.com/

(Kitco News) Barrick Gold Corp. (NYSE:GOLD, TSX:GOLD.TO) said on Monday that it increased its Q2 dividend to shareholders by 14% to 8 cents per share, citing robust performance and strong balance sheets amid record-high gold prices.

The company also noted that its dividend more than doubled since the Barrick-Randgold merger announcement in September 2018.

“The Board believes that the dividend increase is sustainable and is reflective of the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet, with total liquidity of $6.7 billion, including a cash balance of $3.7 billion as of the end of the second quarter, and no material debt repayments due before 2033,” said Senior executive vice-president and chief financial officer Graham Shuttleworth.

On top of that, Q2 earnings revealed that Barrick is currently on track to achieve its annual production guidance despite the COVID-19 impact.

For the rest of this article: https://www.kitco.com/news/2020-08-10/Barrick-Gold-reports-14-rise-in-dividend-amid-soaring-gold-prices-on-track-to-achieve-2020-production-guidance.html

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