Barrick Declares Q3 Dividend and Buys Back Additional Shares
November 07 2024 - 4:59AM
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the
declaration of a dividend of $0.10 per share for the third quarter
of 2024. The dividend is consistent with the Company’s Performance
Dividend Policy announced at the start of 2022.
The Q3 2024 dividend will be paid on December 16,
2024 to shareholders of record at the close of business on November
29, 2024.
Barrick also repurchased an additional 4.725
million shares during the third quarter under the $1 billion share
buyback program that was announced in February 2024, bringing the
total repurchases during the year to 7.675 million shares.
“The continued strength of our balance sheet,
bolstered by record high gold prices and our world class gold and
copper asset base, allow us to distribute a robust quarterly
dividend while maintaining ample liquidity to invest in the growth
of our business and to repurchase additional stock at a compelling
valuation,” said senior executive vice-president and chief
financial officer Graham Shuttleworth.
Enquiries:President and
CEOMark Bristow+1 647 205 7694+44 788 071 1386
Senior EVP and CFOGraham
Shuttleworth+1 647 262 2095+44 779 771 1338
Investor and Media RelationsKathy du
Plessis+44 20 7557 7738Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking
Information
Certain information contained or incorporated by
reference in this press release, including any information as to
our strategy, projects, plans, or future financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “will”, “perform”,
“maintain”, “growth” and similar expressions identify
forward-looking statements. In particular, this press release
contains forward-looking statements including, without limitation,
with respect to Barrick’s operating and financial performance,
liquidity available to invest in growth projects, and the potential
for Barrick to deliver enhanced dividends to shareholders under its
Performance Dividend Policy.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
that, while considered reasonable by the Company as at the date of
this press release in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic, and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements, and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: changes in national and
local government legislation, taxation, controls or regulations
and/ or changes in the administration of laws, policies and
practices; expropriation or nationalization of property and
political or economic developments in jurisdictions in which the
Company or its affiliates do or may carry on business in the
future; fluctuations in the spot and forward price of gold, copper,
or certain other commodities (such as silver, diesel fuel, natural
gas, and electricity); the speculative nature of mineral
exploration and development; assumptions relating to the trading
price of the Company’s common shares; changes in mineral production
performance, exploitation, and exploration successes; disruption of
supply routes which may cause delays in construction and mining
activities at Barrick’s more remote properties; diminishing
quantities or grades of reserves; increased costs, delays,
suspensions and technical challenges associated with the
construction of capital projects; operating or technical
difficulties in connection with mining or development activities;
failure to comply with environmental and health and safety laws and
regulations; timing of receipt of, or failure to comply with,
necessary permits and approvals; the impact of global liquidity and
credit availability on the timing of cash flows and the values of
assets and liabilities based on projected future cash flows; the
impact of inflation; fluctuations in the currency markets; lack of
certainty with respect to foreign legal systems, corruption and
other factors that are inconsistent with the rule of law; damage to
the Company’s reputation due to the actual or perceived occurrence
of any number of events, including negative publicity with respect
to the Company’s handling of environmental matters or dealings with
community groups, whether true or not; the possibility that future
exploration results will not be consistent with the Company’s
expectations; risks that exploration data may be incomplete and
considerable additional work may be required to complete further
evaluation, including but not limited to drilling, engineering and
socioeconomic studies and investment; risk of loss due to acts of
war, terrorism, sabotage and civil disturbances; risks associated
with illegal and artisanal mining; risks associated with new
diseases, epidemics and pandemics; litigation and legal and
administrative proceedings; contests over title to properties,
particularly title to undeveloped properties, or over access to
water, power and other required infrastructure; business
opportunities that may be presented to, or pursued by, the Company;
risks associated with working with partners in jointly controlled
assets; employee relations including loss of key employees;
increased costs and physical risks, including extreme weather
events and resource shortages, related to climate change; risks
related to the failure of internal controls; risks related to the
impairment of the Company’s goodwill and assets; and availability
and increased costs associated with mining inputs and labor. In
addition, there are risks and hazards associated with the business
of mineral exploration, development, and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion, copper
cathode or gold or copper concentrate losses (and the risk of
inadequate insurance, or inability to obtain insurance, to cover
these risks).
Many of these uncertainties and contingencies can
affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future
performance. All of the forward-looking statements made in this
press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release.
Barrick 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.
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