This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Newmont Declares Quarterly Dividend Of $0.15 Per Share; Updates Gold Price-Linked Dividend Policy To Preserve Financial Flexibility

Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) announced its Board of Directors declared a quarterly dividend of $0.15 per share of common stock, payable on March 27, 2014, to holders of record at the close of business on March 13, 2014. The first quarter 2014 dividend is based on Newmont’s gold price-linked policy and based on the average London P.M. Fix of $1,276 per ounce for the fourth quarter 2013.

Moving forward, Newmont continues to remain bullish on the long-term outlook for gold and will retain the dividend policy’s link to the gold price. However, the Company will be adjusting the annual payout levels to provide financial flexibility in the current gold price environment while still offering investors continued leverage as prices rise.

“We are pleased to announce our first quarter dividend declared under our existing policy. Returning capital to shareholders from free cash flow is a key component of our capital allocation strategy,” said Gary Goldberg, President and Chief Executive Officer. “Going forward we are revising our dividend policy to provide greater flexibility to strengthen our balance sheet, develop our best projects and offer shareholders meaningful exposure to rising gold prices.”

Newmont's updated gold price-linked dividend policy includes a quarterly payable dividend based on the average London P.M. Fix for the preceding quarter. The first payout level will begin 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 will be 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 will increase at a rate of $0.20 per share or $0.05 per quarter. For example, if the average London P.M. Fix for the preceding quarter was $1,400 per ounce, the annual dividend would be $0.40 per share or $0.10 per quarter.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs