Barrick Increases Investor Returns as Gold Prices Rise

Barrick Mining has raised its quarterly dividend by 25% to US12.5 cents per share and added a 5-cent performance dividend due to strong cash flow, after generating a record $1.5 billion in free cash flow in Q3. The gold producer also announced a $500 million share buyback, having already repurchased $1 billion in stock this year. Interim CEO Mark Hill indicated that an operational review is underway, focusing on enhancing performance at key assets in Nevada and the Dominican Republic. Gold prices have surged over 55% this year, recently reaching an all-time high above $4,381 an ounce.

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