Barrick Gold Boosts Its Dividend, Backed by Record Free Cash Flow

Barrick Gold (NYSE: GOLD) is absolutely crushing it thanks to surging gold prices. The gold mining giant today announced that it is increasing its dividend for the third time this year, boosted by a strong inflow of cash. Alongside its third-quarter numbers, Barrick Gold increased its quarterly dividend by 12.5% from the previous quarter.

CFO Graham Shuttleworth said, "The Board believes that the current dividend increase is sustainable and is reflective of the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet, with total liquidity of $7.7 billion, including a cash balance of $4.7 billion, and a debt net of cash position of just $0.4 billion as of the end of the third quarter, as well as no material debt repayments due before 2033." 

Those numbers are a testament to Barrick's ongoing aggressive efforts to strengthen its balance sheet. It's quarterly dividend has, in fact, tripled since it announced a merger with Randgold in September 2018. The two companies combined early in 2019.

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Source Fool.com