February 27, 2012 / 2:43 PM / in 6 years

Barrick CEO sees further dividend increases

TORONTO (Reuters) - Barrick Gold (ABX.TO), the world’s largest gold miner, expects to continue to increase dividends aggressively given the bullish outlook for gold, Chief Executive Aaron Regent said on Monday.

Barrick Gold Corporation President and Chief Executive Officer Aaron Regent speaks during the annual general meeting of shareholders in Toronto April 27, 2011. REUTERS/Mike Cassese

“We do have a policy of paying an aggressive dividend and we expect this trend to continue into the future, particularly given the financial performance and the outlook for the business,” CEO Aaron Regent said at the BMO Global Metals and Mining Conference in Hollywood, Florida.

“One should expect to see growing dividends as part of the Barrick story.”

Over the last five years, Barrick has increased its dividend by about 170 percent, including a 25 percent boost last year.

Last October, Barrick raised its quarterly dividend payout to 15 cents a share from 12 cents a share.

A surge in the price of gold has propelled earnings for gold miners higher over the past year, and many miners, including Goldcorp (G.TO), Kinross (K.TO), Newmont (NEM.N) and others have boosted dividend payouts.

Reporting By Euan Rocha; Editing by Frank McGurty

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