Newmont Goldcorp (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, said on Monday it would bump its annual dividend up 79%, effective in the first quarter of 2020, subject to board approval.
The increase brings the Greenwood Village, Colorado-based miner’s quarterly divvy to 25 cents per share.
The company also plans to continue to execute on its recently announced stock repurchase program for up to $1 billion of common equity.
Having merged with Goldcorp and completed a JV with Barrick
in Nevada, and then sold $1.4 billion in assets, Newmont’s focus for 2020 is
delivering value on the remaining portfolio.
The gold giant, which is entering its centenary year in May
of 2020, is also revamping its brand, name (is dropping Goldcorp) and logo to
reflect its leading position in the global market following last year’s deals.
“We successfully completed two historic transactions in
2019, which have transformed Newmont into a truly international organization
with an unmatched portfolio of assets and prospects in top-tier jurisdictions
around the world,” Tom Palmer, president and chief executive officer said
in a separate statement.
The updated Newmont logo leverages the gold triangle from the previous design — which represents the apex of the industry and the pinnacle of leadership — to anchor the strength and stability conveyed by the new logo.
More to come…