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Newmont Increases Quarterly Dividend by 17% to $0.35 per share, an Increase of 133% over the Prior Year's Quarterly Dividend
<< >> DENVER, Oct. 26, 2011 /CNW/ -- Newmont Mining Corporation (NYSE: NEM) ("...
About this update from Nuvau Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\n <<\n\n\n\n >>\n\nDENVER, Oct. 26, 2011 /CNW/ -- Newmont Mining Corporation (NYSE: NEM) (\"Newmont\" or the \"Company) announced today its Board of Directors declared a quarterly dividend of $0.35 per share of common stock, an increase of 17% over the $0.30 dividend paid in the third quarter 2011, and an increase of 133% over the fourth quarter 2010 dividend. The fourth quarter 2011 dividend of $0.35 per share is payable on December 30, 2011, to holders of record at the close of business on December 8, 2011.\n\n\"The 133% increase in our dividend compared to the fourth quarter of 2010 demonstrates our commitment to returning capital to shareholders,\" said Richard O'Brien, President and Chief Executive Officer. \"Our shareholders continue to benefit from our preeminent gold price-linked dividend policy and the highest dividend yield in the industry.\"\n\nThe fourth quarter 2011 dividend of $0.35 per share was declared in consideration of Newmont's third quarter 2011 average realized gold price of $1,695 an ounce. Under the Company's gold price-linked dividend guideline, each quarterly dividend will be based on Newmont's average realized gold price for the preceding quarter.\n\nThe Company's quarterly gold price-linked dividend will increase at a rate of $0.05 per share for each $100 per ounce rise in the average realized gold price for the preceding quarter. The enhanced dividend policy provides an additional step up of $0.025 per share when the Company's realized gold price for a quarter exceeds $1,700 per ounce and another step up of $0.025 per share when the Company's realized gold price for a quarter exceeds $2,000 per ounce.\n\nIn addition, Newmont Mining Corporation of Canada Limited (TSX: NMC) today declared a regular quarterly dividend of CAD $0.3535 per share on its exchangeable shares, payable December 30, 2011 to holders of record at the close of business on December 8, 2011. This dividend is designated as an \"eligible dividend\" for Canadian tax purposes.\n\n <<\n\n\n Cautionary Statement:\n >>\n\nThis 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 app...