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Newmont drops 'Goldcorp' in brand refresh, ups dividend

Newmont has dropped “Goldcorp” from its official name as it unveiled a brand refresh as part of its centenary celebrations and to reflect what it calls a strong and stable foundation following two major transactions in 2019.
Newmont drops 'Goldcorp' in brand refresh, ups dividend Newmont drops 'Goldcorp' in brand refresh, ups dividend Newmont drops 'Goldcorp' in brand refresh, ups dividend Newmont drops 'Goldcorp' in brand refresh, ups dividend Newmont drops 'Goldcorp' in brand refresh, ups dividend

Staff reporter

"We successfully completed two historic transactions in 2019, which have transformed Newmont into a truly international organisation with an unmatched portfolio of assets and prospects in top-tier jurisdictions around the world. As this company has done many times in the past, Newmont has demonstrated its ability to adapt to change, which is truly a hallmark of our success over the last 100 years. Updating our brand represents a natural step as we approach the next 100 years in Newmont's long and proud legacy of operating discipline, profitable growth, environmental stewardship, and developing the industry's best talent," said president and CEO Tom Palmer.

The updated Newmont logo uses the gold triangle from the previous logo which represents the apex of the industry and the pinnacle of leadership. The company celebrates its 100th anniversary in May.

The company also said it planned to increase its dividend by 79% to US$1 per share, effective upon approval and declaration of its first-quarter dividend in April 2020.

"We are pleased to announce a planned increase to our annualized dividend by 79% to one dollar per share and will continue demonstrating our disciplined approach to capital allocation and the confidence we have in our business to deliver substantial future cash flows and returns for shareholders. Our first-quarter dividend will offer investors a highly competitive dividend yield and enhanced returns from owning shares of the world's leading gold company," said Palmer.
 
Newmont said it returned $1.4 billion to shareholders in 2019, including the repurchase of 12.4 million shares in the fourth quarter. 

Shares in Newmont are trading at US$42.83, valuing the company at $35.1 billion.