DENVER--(BUSINESS WIRE)--
Newmont
Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”)
announced its Board of Directors declared a quarterly dividend of $0.025
per share of common stock, payable on March 26, 2015, to holders of
record at the close of business on March 12, 2015. The first quarter
2015 dividend is based on the average London P.M. Fix of $1,201 per
ounce for the fourth quarter 2014.
Newmont's gold price-linked dividend policy includes a quarterly
dividend payable based on the average London P.M. Fix. Beginning in
March 2015 the London P.M. Fix is expected to be changed to the London
Bullion Market Association (LBMA) P.M. Gold Price. Following that
change, Newmont’s dividend will be based on the LBMA P.M. Gold Price.
The first payout level begins 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 is 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 increases at a rate of $0.20 per share or $0.05
per quarter.
The declaration and payment of dividends remains at the discretion of
the Board of Directors and will depend on the Company's financial
results, cash requirements, future prospects and other factors deemed
relevant by the Board.
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 include statements
relating to future dividend payments and the anticipated change to link
the dividend to the LBMA P.M. Gold Price. Investors are cautioned that
the updated gold price-linked dividend policy is 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 or guidelines.
Source: Newmont Mining Corporation