Barrick Gold CEO Says Its Dividend Is ‘Sustainable’

SourceCNBC
SectorEconomy
CountryMiddle east

Text size 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....read more...