Newmont announces special dividend on completion of Goldcorp deal

By Daniel Brightmore
Newmont has declared a one-time special dividend of $0.88 per share, if its $10 billion takeover of Goldcorp is approved. The dividend would be paid to...

Newmont has declared a one-time special dividend of $0.88 per share, if its $10 billion takeover of Goldcorp is approved.

The dividend would be paid to Newmont shareholders as of April 17, 2019, prior to the closing of the proposed Newmont Goldcorp combination.

In a statement, Newmont said the special dividend would deliver value to existing Newmont shareholders with an immediate cash payment for a portion of the synergy potential arising from the Nevada joint venture announced with Barrick Gold.

“We are pleased to make this special dividend payable to Newmont’s current shareholders in recognition of the potential synergy value of the Nevada joint venture agreement,” said Gary Goldberg, Chief Executive Officer. 

“We have continued to engage with, and have listened carefully to, our shareholders, and we are pleased that several of our largest shareholders have expressed their support for the combination with Goldcorp.”

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Newmont also announced today that Mexico’s Competition Commission approved the combination of Newmont and Goldcorp without conditions. This follows clearance from the Canadian Competition Bureau and the Korea Fair Trade Commission in February. Newmont and Goldcorp continue cooperating with other regulatory agencies to secure the remaining approvals that are conditions to closing.

The proposed combination with Goldcorp represents a significant value creation opportunity for Newmont’s shareholders, providing the combined company’s shareholders with an unmatched portfolio of world class operations, projects, exploration opportunities, Reserves and talent. Newmont’s Board of Directors continues to unanimously support the transaction with Goldcorp.

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