Newmont increases quarterly dividend by 79%

Mine trucks at Newmont’s Porcupine mines. (Image courtesy of Newmont Goldcorp | Flickr)

Newmont (NYSE: NEM, TSX: NGT), the world’s no. 1 gold miner, announced a quarterly dividend of $0.25 per share of common stock, to be paid to holders of record at the close of business day on June 4.

The decision represents a “significant increase to its industry-leading dividend,” the company said.

In January, Newmont announced it will increase its quarterly dividend to $1.00 per share annually.

The company said that future quarterly dividends would depend on the company’s financial results, cash flow, and duration and impact of the covid-19 pandemic.

Midday Wednesay, Newmont’s stock was up 3.3% on the NYSE. The company has a $49.5 billion market capitalization.

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