Barrick Mining boosts quarterly dividend 140% on record profits

Thursday 05 - 14:20

By: Dakir Madiha

Barrick Mining boosts quarterly dividend 140% on record profits

Barrick Mining announced Wednesday a quarterly dividend of $0.42 per share for Q4 2025, a 140 percent increase from the prior quarter and the company's boldest move yet in shareholder returns. The gold and copper producer also unveiled a new dividend policy dedicating 50 percent of attributable free cash flow to payouts.

The dividend yields an annualized 3.5 percent, or $1.68 per share yearly, payable March 16, 2026, to shareholders of record at market close February 27, 2026. The ex-dividend date is February 26, 2026.

The hike follows what Barrick called a strong Q4 2025 performance. The firm reported net earnings of $2.41 billion ($1.43 per share) and adjusted net earnings of $1.75 billion ($1.04 per share). Adjusted earnings beat analyst estimates of $0.85 per share by over 22 percent.

Alongside the dividend, Barrick repurchased about 12.11 million shares in Q4 under its share buyback program launched in February 2025. For full-year 2025, it bought back roughly 51.90 million shares under a $1.5 billion authorization.

The new framework replaces Barrick's prior performance dividend policy, which tied payouts to net cash position at threshold levels. In November 2025, the company raised its base quarterly dividend 25 percent to $0.125 per share, plus a $0.05 performance dividend, totaling $0.175 per share for Q3.

Strong cash generation amid high gold prices drives these shareholder rewards. In Q3 2025, Barrick posted record operating cash flow of $2.4 billion and free cash flow of $1.5 billion, up 82 percent and 274 percent from the prior quarter. The Toronto-based miner ended that period with about $5 billion in cash and equivalents.

"Thanks to enhanced dividends and buybacks, we've delivered substantial financial benefits to shareholders," said CFO Graham Shuttleworth in the Q3 announcement. Barrick achieved a net cash positive position in Q3 2025, ending with $323 million net cash, triggering its performance dividend framework and boosting buybacks. It returned $843 million to shareholders that quarter alone, nearly double Q2's amount.