Newmont kicks off 2020 with 79% dividend hike, new image
Newmont (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, said on Monday it would bump its annual dividend up 79%, effective in the first quarter of 2020, subject to board approval.
The increase brings the Greenwood Village, Colorado-based miner’s quarterly divvy to 25 cents per share and comes the same day gold prices surged to its highest since 2013.
The company also plans to continue to execute on its recently announced stock repurchase program for up to $1 billion of common equity.
“We successfully completed two historic transactions in 2019, which have transformed Newmont into a truly international organization with an unmatched portfolio of assets and prospects in top-tier jurisdictions around the world,” Tom Palmer, president and chief executive officer said in a separate statement.
The gold giant, which is entering its centenary year in May of 2020, is also revamping its brand, name (is dropping Goldcorp) and logo, to reflect its leading position in the global market following last year’s deals.
The updated Newmont logo leverages the gold triangle from the previous one, the company said. The shape represents the apex of the industry and the pinnacle of leadership and was chosen to anchor strength and stability conveyed in the new logo.