Newmont Increases Quarterly Dividend by 79 percent to $0.25 Per Share
Newmont Corp. (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced that its Board of Directors declared a quarterly dividend of $0.25 per share of common stock, payable on June 18, 2020, to holders of record at the close of business on June 4, 2020.
Consistent with the Company’s prior announcement to significantly increase its industry leading dividend, the first quarter 2020 dividend declared represents an increase of 79 percent compared to the prior quarterly dividend of $0.14 per share.
The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash flow and cash requirements, duration and impact of the COVID-19 pandemic, future prospects, and other factors deemed relevant by the Board.1
1 See cautionary statement at the end of this release for additional information.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Forward-looking statements often contain words such as “expect,” “intend,” “plan,” and “will.” Such forward-looking statements may include, without limitation, statements or expectations regarding future dividend payments. Investors are cautioned that declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Newmont’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, gold price fluctuations and other factors deemed relevant by the Board. Other than the first quarter 2020 dividend announced above, dividends for the remainder of 2020 have not yet been approved or declared by the Board of Directors. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on the common stock of the Company, the Board of Directors may revise or terminate such dividend plans at any time without prior notice. Investors are reminded that forward-looking statements are subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed, including, without limitation, risks in connection with the operations, cash flow and results of the Company relating to the uncertain duration, scope and effect of the current COVID-19. Uncertainties relating to the global economic impact of COVID-19, include, without limitation, general macroeconomic uncertainty and changing market conditions, changing restrictions on the mining industry in certain the jurisdictions in which we operate, the ability to operate following changing governmental restrictions on travel and business operations (including, without limitation, the duration of restrictions, including access to sites, ability to transport and ship doré, access to processing and refinery facilities, impacts to international trade, impacts to supply chain, including price, availability of goods, ability to receive supplies and fuel, impacts to productivity and operations in connection with decisions intended to protect the health and safety of the workforce, their families and neighboring communities). In light of the changing environment and uncertainties, no guarantees can be provided that Newmont’s proactive efforts to minimize impacts will be effective in eliminating risks. Similarly, no guarantees can be made that the Company will be able to maintain an increased dividend level. Investors should not place undue reliance on forward-looking statements.