Barrick Gold CEO Says Its Dividend Is ‘Sustainable’

  • Date: 05-Apr-2021
  • Source: CNBC
  • Sector:Economy
  • Country:Middle East
  • Who else needs to know?

Barrick Gold CEO Says Its Dividend Is ‘Sustainable’

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Barrick Gold



CEO Mark Bristow says the company will be smart about any acquisitions and that its quarterly dividend of 9 cents a share is "sustainable“ even if gold prices, now at $1,729 an ounce, decline to $1,200.

In an interview with Barron's, Bristow said that Toronto-based Barrick (ticker: GOLD), which shares leadership of the gold industry with Denver-based



Newmont



(NEM), has "the industry's best assets, strongest balance sheet with no net debt, and the best people.“

Barrick shares are down 10% this year to around $20 as gold prices have fallen 9% and now carry a 1.8% yield. The stock has lagged behind that of Newmont in the past year. Barron's this weekend identified Barrick as a stock pick.

A South African geologist and big-game hunter, Bristow is the highest-profile figure in the gold mining industry.

He made his reputation