TORONTO - Barrick Gold (LON:0R22) Corporation (NYSE:GOLD)(TSX:ABX), one of the world's largest gold mining companies, has declared a dividend for the first quarter of 2024 at $0.10 per share, aligning with its Performance Dividend Policy established in 2022. The dividend will be payable on June 17, 2024, to shareholders on record as of May 31, 2024.
Graham Shuttleworth, Barrick Gold's senior executive vice-president and chief financial officer, commented on the company's ability to sustain its dividend, attributing it to the strength of the balance sheet and the robust global asset base. He emphasized that this financial stability allows for consistent shareholder returns while still providing the liquidity necessary for the company's growth investments.
The announcement comes amid a backdrop of fluctuating commodity prices, with gold often viewed as a safe-haven asset in times of economic uncertainty. Barrick Gold's forward-looking statements in the press release highlighted the company's operational and financial performance expectations, as well as its liquidity position to fund growth initiatives.
Still, the press release also contained cautionary statements regarding forward-looking information. It mentioned various risks, including market fluctuations, operational challenges, and legal and regulatory changes, which could impact the company's future performance.
Barrick Gold also noted the speculative nature of mineral exploration and development and the potential for changes in cost estimates or production performance that could affect its financial position.
Investors are reminded that forward-looking statements are not guarantees of future performance and are subject to uncertainties and contingencies. Barrick Gold has advised against placing undue reliance on these projections.
This dividend declaration is based on a press release statement by Barrick Gold Corporation and is intended to inform shareholders and the market about the company's dividend policy and its adherence to that policy for the first quarter of 2024.
InvestingPro Insights
Barrick Gold Corporation (NYSE:GOLD) has remained a staple in the portfolios of investors looking for stability and consistent returns in the gold mining sector. The company's recent dividend declaration is a testament to its financial health and commitment to shareholder value. In light of this, let us delve into some key metrics and insights from InvestingPro that could further inform investment decisions regarding Barrick Gold.
InvestingPro data highlights Barrick Gold's robust financial position with a market capitalization of $29.15 billion. The company's Price/Earnings (P/E) ratio stands at 23.08, indicating a potentially attractive valuation, especially when considering the company's ability to maintain dividend payments for an impressive 38 consecutive years. This commitment to returning value to shareholders is further underscored by the company's moderate debt levels and liquidity, with liquid assets surpassing short-term obligations.
From a growth perspective, Barrick Gold's revenue growth over the last twelve months as of Q1 2023 was 3.49%, with a more significant quarterly increase of 10.27% in Q1 2023. These figures suggest a positive trajectory in the company’s ability to generate income, which is crucial for sustaining dividend payments and funding future growth initiatives.
InvestingPro Tips for Barrick Gold also shed light on the company's investment appeal. Analysts have noted that the stock typically exhibits low price volatility, which might be attractive to investors seeking less turbulent assets. Moreover, there's an optimistic outlook with analysts predicting profitability for the company this year, a continuation of its profitable streak over the last twelve months.
For investors seeking more comprehensive analysis and additional InvestingPro Tips on Barrick Gold, there are 7 more tips available at: https://www.investing.com/pro/GOLD. These insights could provide a deeper understanding of the company's financial health and future prospects. Take advantage of the exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable data and expert insights.
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