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Newmont ups dividend by 87%

Newmont Mining (NYSE:NEM) has upped its quarterly dividend by 87% year-on-year after moving to a more traditional dividend policy.
Newmont ups dividend by 87% Newmont ups dividend by 87% Newmont ups dividend by 87% Newmont ups dividend by 87% Newmont ups dividend by 87%

Newmont has seen a sharp rise in its quarterly dividend after moving away from a gold-linked policy

Staff reporter

The company's board has declared a quarterly dividend of US14c per share, which will be payable on September 27 to shareholders on record at the close of business on September 13.

The company decided to abandon its gold price-linked dividend policy at the end of last year due to unpredictability, and move towards a more traditional method.

It also said at the time that it planned to increase its 2018 payouts by at least 50%, which would bring the annualised dividend to around 45c/share.

It said in the latest dividend announcement the declaration and payment of future quarterly dividends remained at the board's discretion and depended on financial results, cash requirements, future prospects and other factors.

Newmont's shares were trading at $37.17c/share Tuesday, up 1.64%.