Newmont Declares Quarterly Dividend of USD 0.025 Per Share
OREANDA-NEWS. Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") announced its Board of Directors declared a quarterly dividend of USD 0.025 per share of common stock, payable on March 26, 2015, to holders of record at the close of business on March 12, 2015. The first quarter 2015 dividend is based on the average London P.M. Fix of USD 1,201 per ounce for the fourth quarter 2014. Newmont's gold price-linked dividend policy includes a quarterly dividend payable based on the average London P.M. Fix. Beginning in March 2015 the London P.M. Fix is expected to be changed to the London Bullion Market Association (LBMA) P.M. Gold Price. Following that change, Newmont's dividend will be based on the LBMA P.M. Gold Price. The first payout level begins between USD 1,200 and USD 1,299 per ounce, with an annual dividend of USD 0.10 per share or USD 0.025 per quarter. The second payout is between USD 1,300 and USD 1,399 per ounce, with an annual dividend of USD 0.20 per share or USD 0.05 per quarter. For each USD 100 per ounce additional increase in the average realized gold price above USD 1,300 per ounce, the annual payout increases at a rate of USD 0.20 per share or USD 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.