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Gold Fields betters deal terms for Yamana, announces TSX listing

Kitco Media
By Michael McCrae
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Gold Fields (NYSE:GFI) said today it is upping its dividend upon completion of Yamana Gold.

In May Gold Fields announced the $6.7-billion acquisition of Yamana.

"Given our strong conviction on cash flows, Gold Fields will revise its dividend policy to enable it to declare an interim and final dividend in respect of each financial year, based on 30-45% of the normalised earnings attributable to owners of the parent," said Gold Fields in a news release stating that the dividend will be at the top end following implementation of the proposed acquisition.

Gold Fields will apply to have its securities listed on the TSX, subject to the completion of the transaction. Gold Fields is already list on the Johannesburg Stock Exchange (JSE) and has a secondary listing of American depositary shares on the New York Stock Exchange.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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