DENVER, Feb. 22, 2012 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company) announced today its Board of Directors declared a quarterly dividend of $0.35 per share of common stock, payable on March 29, 2012, to holders of record at the close of business on March 15, 2012.
"The 133% increase in our dividend compared to the first quarter of 2011 demonstrates our commitment to returning capital to shareholders," said Richard O'Brien, President and Chief Executive Officer. "Our shareholders continue to benefit from our preeminent gold price-linked dividend policy."
The first quarter 2012 dividend of $0.35 per share was declared in consideration of Newmont's fourth quarter 2011 average realized gold price of $1,670 an ounce. Under the Company's gold price-linked dividend guideline, each quarterly dividend will be based on Newmont's average realized gold price for the preceding quarter.
In addition, Newmont Mining Corporation of Canada Limited (TSX: NMC) today declared a regular quarterly dividend of CAD $0.35 per share on its exchangeable shares, payable March 29, 2012 to holders of record at the close of business on March 15, 2012. This dividend is designated as an "eligible dividend" for Canadian tax purposes.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 or gold prices. Investors are cautioned that the new gold price-linked dividend guidelines are 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 guidelines.