nt Announces 50% Increase to Regular Quarterly Dividend to $0.30 Per Share DENVER, July 27, 2011 /CNW/ -- Newmont Mining Corporation (NYSE: NEM) announced today that its Board of Directors declared a regular quarterly dividend of $0.30 per share of common stock, an increase of 50% over the $0.20 dividend paid in the second quarter 2011, and an increase of 100% over the third quarter 2010 dividend. The third quarter 2011 dividend of $0.30 per share is payable on September 29, 2011, to holders of record at the close of business on September 8, 2011.
The third quarter 2011 dividend of $0.30 per share was declared in consideration of Newmont's second quarter 2011 average realized gold sales price of $1,501 an ounce (i.e. between $1,500 - $1,599 per ounce). Under the Company's recently announced gold price-linked dividend guideline, it is contemplated that each quarterly dividend will be determined as a function of Newmont's average realized gold sales price for the preceding quarter. The Company's quarterly dividend will increase at a rate of $0.05 per share for each $100 per ounce rise in the average realized gold sales price for the preceding quarter.
In addition, Newmont Mining Corporation of Canada Limited (TSX: NMC) today declared a regular quarterly dividend of CAD $0.2842 per share on its exchangeable shares, payable September 29, 2011 to holders of record at the close of business on September 8, 2011. This dividend is designated as an "eligible dividend" for Canadian tax purposes. |
