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Barrick to pay bigger dividend

Barrick Gold (TSX: ABX) has confirmed its promise of a bigger fourth quarter dividend for shareholders.
Barrick to pay bigger dividend Barrick to pay bigger dividend Barrick to pay bigger dividend Barrick to pay bigger dividend Barrick to pay bigger dividend

Barrick confirms “enhanced” dividend ahead of merger

Staff reporter

The Canada-based miner's board declared a fourth quarter dividend of US7c per share, resulting in an annualised 2018 dividend of 16c, above the previously slated 12c.

Barrick had flagged the bigger payment in October as a sweetener for shareholders in connection with its nearing merger with Randgold Resources (LSE: RRL).
 
Randgold has also said it would increase its 2018 dividend from $2/share to $2.69.

The enhanced dividends were expected to cost Barrick $23 million and Randgold $65 million.

"Following the completion of Barrick's merger with Randgold Resources Limited, the company expects to pay a quarterly dividend of $0.04 per share, commencing with the dividend to be declared in April 2019 in respect of the first quarter of 2019," Barrick said.

The pair have just announced their $18 billion merger has passed the final milestone, being sanctioned by the Royal Court of Jersey.  

New Barrick is expected to come into effect on January 1.