Barrick says its return to shareholders is 'one of the highest in the industry' for 2021
(Kitco News) - Barrick Gold (NYSE:GOLD)(TSX:ABX) today confirmed that the per share amount of the first $250 million tranche of a return of capital distribution totalling $750 million to be paid on June 15, 2021 will be $0.1405117, based on the number of issued and outstanding shares as of the May 28, 2021 record date.
The company said that this follows the approval by shareholders at Barrick’s Annual and Special Meeting on May 4, 2021 of the total $750 million return of capital distribution. The remaining distribution of $500 million is expected to be effected in two equal tranches to shareholders of record on dates to be determined in August and November 2021.
On June 15, 2021, Barrick will also pay a previously declared dividend of $0.09 per share for the first quarter of 2021 to shareholders of record at the close of business on May 28, 2021.
"Our overall return to shareholders for 2021 is one of the highest in the industry and marks another milestone in our journey towards our objective of building the world's most valued gold company," said senior executive vice-president and chief financial officer Graham Shuttleworth.
"Our strong balance sheet and cash flows, and our 10-year production outlook anchored by our Tier One gold assets, position us well to continue creating and delivering value to our investors and our other stakeholders," added Shuttleworth.