Randgold Raises Dividend Before Merger with Canadian Barrick

Randgold Resources, London's largest gold mining company, announced a higher payment to shareholders before its $ 6 billion merger with Canada's Barrick Gold.

The company will now pay a record dividend of $ 2.69 per share, up from $ 2.00 originally announced.

"Based on Randgold's dividend policy and financial performance to date in 2018, Randgold has determined that Randgold's authorized gross dividend of $ 2.69 per share for 2018 would be consistent with this policy," said Randgold. said the company in a statement.

Barrick also announced a payment increase of 7 cents per share for the three months ending in December and defined a new dividend policy for the amalgamated company, which will become the largest gold producer in the world by volume.

"Given Barrick's strong fundamentals, including higher cash flow generation, additional overhead cost savings, a potential badet sale product, and a reduction in interest expense, Barrick will be targeting an annualized dividend of 16 cents per share, "said the company.

Investors urge large gold producers to increase their yields and prove that they can be responsible managers of capital.