DENVER--(BUSINESS WIRE)-- Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced its Board of Directors declared a quarterly dividend of $0.075 per share of common stock, payable on September 28, 2017, to holders of record at the close of business on September 14, 2017.

This dividend is payable under the Company’s gold price-linked dividend policy. The dividend of $0.075 per share is triple the dividend paid in the prior year quarter.

The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.


News Details
Newmont Retires $575 Million of Convertible Senior Notes
07/17/2017 DENVER--(BUSINESS WIRE)-- Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) today announced it retired $575 million of principal under its 1.625% convertible senior notes due July 15, 2017. Since 2013, Newmont has streamlined its balance sheet and reduced its gross debt by over 30% and its net debt by nearly 70%.

“The full repayment of our Convertible Notes continues the deleveraging and simplification of our balance sheet we began in 2013,” said Nancy Buese, Executive Vice President and Chief Financial Officer. “This $575 million reduction of debt further affords us the financial flexibility to fund our highest margin projects and exploration opportunities while keeping our commitment to return cash to shareholders. Since 2013, we have reduced our gross debt by approximately $2.1 billion while self-funding nine growth projects and returning $260 million to our shareholders in dividend payments.”

In total, the Company has approximately $5.5 billion dollars in cash and revolver capacity and will continue to evaluate and optimize the best use of free cash flow including investing in projects to improve margins and reserve life, returning capital to shareholders, and repaying debt. The next tranche of debt due is $626 million of 5.125% senior notes due on October 1, 2019.

About Newmont
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru, and Suriname. Newmont is the only gold mining company in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015 and 2016. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.