Newmont Corporation (NEM), formerly Newmont Goldcorp, will raise its quarterly dividend by 78.6 percent to $0.25 per share in 2020. In today's press release Newmont announced a plan to increase its quarterly dividend to $0.25 per share, or an expected $1.00 per share annually, which will become effective upon approval and declaration of the first quarter dividend in April 2020.

“We are pleased to announce a planned increase to our annualized dividend by 79 percent to one dollar per share and will continue demonstrating our disciplined approach to capital allocation and the confidence we have in our business to deliver substantial future cash flows and returns for shareholders,” said Tom Palmer, President and Chief Executive Officer. “Our first quarter dividend will offer investors a highly competitive dividend yield and enhanced returns from owning shares of the world’s leading gold company.”

A new annualized dividend rate of $1.00 per share yields 2.4% at a stock price of $42.27.

Newmont Corporation, formerly Newmont Goldcorp Corporation and Newmont Mining Corporation, is primarily a gold producer with operations in the United States, Canada, Mexico, Dominion Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana. Newmont is also engaged in the production of copper, silver, lead and zinc. The company's corporate headquarters are in Greenwood Village, Colorada, USA. On April 18, 2019 the company completed the acquisition of Goldcorp, Inc. Newmont's original predecessor corporation was incorporated in 1921 and has been publicly traded since 1925.