Barrick reports record free cash flow, Announces dividend of 9 cps

November 08, 2020 08:00 AM AEDT
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Barrick Gold Corporation (TSX: ABX) (NYSE: GOLD) reported the increase in quarterly operating cash flow and free cash flow for the period ended 30 September 2020 to US$1.9 billion and US$1.3 billion, respectively.

The quarter manifests the record free cash flow on the quarter level for the company. The gold giant hits a hat trick on increasing the dividend for the third time during the year to US$0.09 a share, an increase of 12.5% against the previous quarter.
Higher gold prices are understood to be the primary factor behind the strong cash flow.
The gold realised price increased to US$1,926 an ounce, registering a ~30.5% increase against the same period last year. Additionally, the group level cash costs declined to US$696 an ounce against US716 an ounce gold during the June quarter.

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