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 June 25, 2015, to holders of
record at the close of business on June 11, 2015. The second quarter
2015 dividend is based on the average London Bullion Market Association
(LBMA) P.M. Gold Price of $1,218 per ounce for the first quarter 2015.
Newmont's gold price-linked dividend policy includes a quarterly
dividend payable based on the average LBMA P.M. Gold Price for the
preceding quarter. 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 may include, including,
without limitation, statement relating to future dividend payments, gold
prices, return on capital, investments, operating cash flow, financial
flexibility and balance sheet strength. Investors are cautioned that the
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