Newmont Declares Quarterly Dividend of $0.025 Per Share
23 July 2014 - 9:25AM
Business Wire
Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the
“Company”) announced its Board of Directors declared a quarterly
dividend of $0.025 per share of common stock, payable on September
26, 2014, to holders of record at the close of business on
September 11, 2014. The third quarter 2014 dividend is based on the
average London P.M. Fix of $1,288 per ounce for the second quarter
2014.
Newmont's gold price-linked dividend policy includes a quarterly
dividend payable based on the average London P.M. Fix for the
preceding quarter. The first payout level begins between $1,200 and
$1,299 per ounce, with an annual dividend of $0.10 per share or
$0.025 per quarter. The second payout is between $1,300 and $1,399
per ounce, with an annual dividend of $0.20 per share or $0.05 per
quarter. For each $100 per ounce additional increase in the average
realized gold price above $1,300 per ounce, the annual payout
increases at a rate of $0.20 per share or $0.05 per quarter.
The declaration and payment of dividends remains at the
discretion of the Board of Directors and will depend on the
Company's financial results, cash requirements, future prospects
and other factors deemed relevant by the Board.
Cautionary Statement:
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbor created by such
sections and other applicable laws. Such forward-looking statements
may include, including, without limitation, statement relating to
future dividend payments, gold prices, return on capital,
investments, operating cash flow, financial flexibility and balance
sheet strength Investors are cautioned that the updated gold
price-linked dividend policy is non-binding. The declaration and
payment of future dividends remain at the discretion of the Board
of Directors and will be determined based on Newmont’s financial
results, cash and liquidity requirements, future prospects and
other factors deemed relevant by the Board. The Board of Directors
reserves all powers related to the declaration and payment of
dividends. Consequently, in determining the dividend to be declared
and paid on the common stock of the Company, the Board of Directors
may revise or terminate such policy at any time without prior
notice. As a result, investors should not place undue reliance on
such policy or guidelines.
Newmont Mining CorporationInvestor
ContactMeredith Bandy, 303-837-5143meredith.bandy@newmont.comorKirsten Benefiel,
303-837-6117kirsten.benefiel@newmont.comorMedia ContactOmar Jabara,
303-837-5114omar.jabara@newmont.comorDiane Reberger,
303-967-9455diane.reberger@newmont.com
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