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Newmont pledges special dividend

US gold major Newmont Mining has promised to pay shareholders a special dividend of US88c should they vote in support of the $10 billion merger with Goldcorp in April.
Newmont pledges special dividend Newmont pledges special dividend Newmont pledges special dividend Newmont pledges special dividend Newmont pledges special dividend

Newmont CEO Gary Goldberg has pledged a special dividend to shareholders should the Goldcorp merger successfully close

As criticism of the deal mounts, most recently from Newmont owners Van Eck and Paulson & Co, Goldcorp said it supported the one-time dividend and continued to recommend shareholders vote in favour of the proposed merger.

Newmont CEO Gary Goldberg said Monday the special dividend was in "recognition of the potential synergy value" of the Nevada JV agreement with rival gold major Barrick.

"We have continued to engage with, and have listened carefully to, our shareholders, and we are pleased that several of our largest shareholders have expressed their support for the combination with Goldcorp," he said.

Goldcorp shareholders will vote first on the mega-merger on April 4. Independent proxy advisory firm Institutional Shareholder Services has recommended that shareholders approve the deal, Goldcorp said Monday.

Newmont shareholders will choose on April 11. Pending a positive shareholder outcome, the Newmont-Goldcorp transaction is expected to close shortly after the two special shareholder meetings.

Newmont also advised Monday the Mexico Competition Commission had given the thumbs up for the merger to proceed, adding its consent to that of the Canadian Competition Bureau and the Korea Fair Trade Commission.