CAPITAL MARKETS

Newmont declares quarterly dividend

Gold major Newmont has declared a quarterly dividend ahead of releasing its second quarter results later today.

Staff reporter
 Newmont’s Merian mine maintenance team in Suriname

Newmont’s Merian mine maintenance team in Suriname

The dividend of US55c is payable on September 23 and is the same amount as the previous two quarterly dividends following a 38% boost in February.

"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, future prospects, and other factors deemed relevant by the board," Newmont said.

Strong commodity prices are helping miners return value to shareholders this year.

Lithium major Albemarle declared a quarterly dividend of 39c earlier this week and BHP was expected to declare a strong dividend next month.

Newmont shares have spanned $54.18-$75.31 over the past 12 months and closed at $60.36 yesterday, valuing it at $48.4 billion.

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