New Performance Dividend Policy Doubles Barrick’s Quarterly Dividend
PRESS RELEASE
NYSE : GOLD TSX : ABX
New Performance Dividend Policy Doubles Barrick’s
Quarterly Dividend
Toronto, May 4 , 2022 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced
the declaration of a dividend in respect of performance for the first quarter of 2022 that
incorporates an enhancement to the base dividend as a result of achieving Level III under the
Company’s Performance Dividend Policy.
Barrick’s Board of Directors declared a dividend of $0.20 per share for the first quarter of 2022
that will be paid on June 15, 2022 to shareholders of record at the close of business on May 27 ,
2022.1 This dividend comprises a base quarterly dividend of $0.10 per share and a performance
dividend enhancement of an additional $0.10 per share.
The $0.10 per share enhancement to the base quarterly dividend was achieved as a result of
Barrick reporting net cash on its Consolidated Balance Sheet at March 31, 2022 of greater than
$0.5 billion and less than $1 billion as per the following schedule:
Performance
Dividend Level Threshold Level Quarterly
Base Dividend
Quarterly
Performance Dividend
Quarterly
Total Dividend
Level I Net cash less than $0 $0.10 per share $0.00 per share $0.10 per share
Level II Net cash greater than $0 and less than $0.5 billion $0.10 per share $0.05 per share $0.15 per share
Level III Net cash greater than $0.5 billion and less than $1 billion $0.10 per share $0.10 per share $0.20 per share
Level IV Net cash greater than $1 billion $0.10 per share $0.15 per share $0.25 per share
“Our strong operating performance and robust net cash balance has allowed us to provide an
enhanced dividend to our shareholders,” says senior executive vice-president and chief financial
officer Graham Shuttleworth. “We believe this shows the benefit of the Performance Dividend
Policy that we announced in February, including the guidance it provides to our shareholders on
future dividend streams.”
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
BARRICK GOLD CORPORATION PRESS RELEASE
Endnote 1
The declaration and payment of dividends is at the discretion of the Board of Directors, and will depend on the
company’s financial results, cash requirements, future prospects, the number of outstanding common shares, and other
factors deemed relevant by the Board.
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 financial or operating performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are forward-looking statements. The words “will”, “benefit”,
“potential”, “expect”, “commit”, “would”, “could” and simi lar 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 enhanced dividends to shareholders under
its Performance Dividend Policy.
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 u ncertainties 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 rel ating 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; litigation 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 r isks, 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.