- Higher gold prices this year has prompted some of the world's largest bullion producers to increase dividends, but Randgold (LON:RRS) Resources (NASDAQ:GOLD) CEO Mark Bristow warns higher payouts may be too hasty in light of past mistakes.
- "The industry hasn't learned" from squandering the spoils from gold prices above $1,900/oz. in 2011 on dividends and acquisitions, rather than cutting costs and investing in existing mines, Bristow tells Reuters.
- Newmont Mining (NYSE:NEM) doubled its quarterly dividend last month and introduced a new payout policy with the potential to more than double dividends from Q1 2017, Newcrest Mining (OTCPK:NCMGF) reinstated its dividend this year for the first time since 2013, Agnico Eagle (NYSE:AEM) raised its quarterly dividend by 25% in July to the highest in three years, and Harmony Gold (NYSE:HMY) paid its first dividend in four years in August.
- Randgold, which prides itself on being a low-cost producer that is careful with its cash, itself is planning to raise its dividend at year-end.
Original article