Barrick Reports Record Annual Returns to Shareholders in 2022 and Declares Q4 Dividend
PRESS RELEASE
NYSE : GOLD TSX : ABX
All amounts expressed in US dollars
Barrick Reports Record Annual Returns to
Shareholders in 2022 and Declares Q4 Dividend
Toronto, February 15, 2023 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today
announced the declaration of a dividend of $0.10 per share for the fourth quarter of 2022. The
dividend is consistent with the Company’s Performance Dividend Policy announced at the start
of 2022. The Q4 2022 dividend will be paid on March 15, 2023 to shareholders of record at the
close of business on February 28, 2023.
In addition to the dividends paid in 2022, Barrick repurchased 24.25 million shares under the
share buyback program that was announced in February 2022. As a result , $1.6 billion of cash
was returned to shareholders through dividends and share buybacks during the year, exceeding
the record $1.4 billion of distributions made in 2021.
“On the back of the company’s continuing strong operating performance, through the combination
of the performance dividen d policy and share buyback program , we have once again provided
shareholders with record annual returns,” said senior executive vice-president and chief financial
officer Graham Shuttleworth.
Enquiries:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Senior EVP and CFO
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our
strategy, projects, plans, or future financia l or operating performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are forward-looking statements. The words “will”, “continue”, “goal”,
“would”, “could” and similar expressions identify forward-looking statements. In particular, this press release contains
forward-looking statements including, without limitation, with respect to Barrick’s operating and financial performance
and the potential for Barrick to deliver meaningful returns to sharehold ers under its Performance Dividend Policy and
Share Buyback Program.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as
at the date of this press release in light of management’s experience and perception of current conditions and expected
developments, are inherently subject to significant business, economic, and competitive uncert ainties and
contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the
forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors
include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities
(such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development;
assumptions relating to the trading price of the Company’s common shares; changes in mineral production
performance, exploitation, and exploration successes; disruption of supply routes which may cause delays in
construction and mining activities at Barrick’s more remote properties; whether benefits expected from recent
transactions are realized; diminishing quantities or grades of reserves; increased costs, delays, suspensions and
technical challenges associated with the construction of capital projects; operating or technical difficulties in connection
with mining or development activities, including geotechnical challenges and disruptions in the maintenance or
provision of required infrastructure and information technology systems; failure to comply with environmental and health
and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals;
uncertainty whether some or all of targeted investments and projects will meet the Company’s capital allocation
objectives and internal hurdle rate; the impact of global liquidity and credit availability on the timing of cash flows and
the values of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in the
currency markets; changes in national and local government legislation, taxation, controls or regulations and/or
changes in the administration of laws, policies and practices, expropriation or nationalization of property and political
or economic developments in the jurisdictions in which the Company or its affiliates do or may carry on business in the
future; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the
rule of law; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events,
including negative publicity with respect to the Company’s handling of environmental matters or dealings with
community groups, whether true or not; the possibility that future exploration results will not be consistent with the
Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be
required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and
investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with illegal and
artisanal mining; risks associated with new diseases, epidemics and pandemics, including the effects of the global
Covid-19 pandemic; lit igation and legal and administrative proceedings; contests over title to properties, particularly
title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities
that may be presented to, or pursued by, the Company; our ability to successfully integrate acquisitions or complete
divestitures; risks associated with working with partners in jointly controlled assets; employee relations including loss
of key employees; increased costs and physical risks, including extreme weather events and resource shortages,
related to climate change; and availability and increased costs associated with mining inputs and labor. In addition,
there are risks and hazards associated with the business of mineral exploration, development, and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold
bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain
insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers
are cautioned that forward-looking statements are not guarantees of future performance. All of the forward- looking
statements made in this press release are qualified by these cautionary statements. Specific reference is made to the
most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory
authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks
that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this
press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of
new information, future events or otherwise, except as required by applicable law.