Loading ...Barrick Gold (TSX: ABX) (NYSE: GOLD) posted on Wednesday a better-than-expected quarterly profit and gave investor a more than welcome 40% dividend increase thanks to strong gold prices.
The world’s second largest producer of the yellow metal said adjusted net earnings in the three months to December reached $300 million, or 17 cents a share, up from $264 million recorded in the previous quarter. Analysts’ average estimate was 14 cents a share.
The results, along with Barrick halving its debt to $2.2 billion over the course of 2019, allowed the miner to declare a dividend of 7 cents a share, up from 5 cents in third quarter, payable on March 16.
Barrick beats forecasts, hikes dividend by 40% as gold prices soar