Barrick Raises Base Dividend 25% and Declares Enhanced Q3 Dividend

Rhea-AI Summary

B (Barrick) raised its quarterly base dividend by 25% to $0.125 per share and declared an enhanced Q3 2025 dividend of $0.175 per share (including a $0.05 performance dividend). The Q3 dividend is payable on December 15, 2025 to holders of record on November 28, 2025. Barrick repurchased approximately 18.60 million shares in Q3 and 39.79 million shares year-to-date under the 2025 buyback program, representing about 2.3% of issued shares, for total cash of $1.0 billion (including $589 million in Q3). The company updated its Performance Dividend Policy showing tiered performance payments up to $0.15 per quarter, producing a maximum quarterly total of $0.275 per share.

Positive

• Base dividend increased 25% to $0.125 per share
• Q3 2025 dividend of $0.175 per share (includes $0.05 performance)
• $1.0B of share buybacks executed year-to-date
• Repurchased 39.79M shares YTD (~2.3% of shares)

Negative

• $1.0B cash deployed to buybacks reduces available cash resources
• Buybacks equal ~2.3% of shares, a limited reduction in share count

Insights

Equity Analyst

Barrick raises its base dividend 25% and pays an enhanced Q3 dividend while buying back shares, signalling shareholder returns focus.

Barrick increased its quarterly base dividend to $0.125 per share, declared a $0.175 per share Q3 dividend (including a $0.05 performance component) and repurchased ~18.60 million shares in Q3, totaling ~39.79 million shares and $1.0 billion year-to-date.

The mechanics improve cash return to holders via higher recurring cash distributions and active buybacks; higher base dividend raises the minimum cash commitment each quarter and the updated Performance Dividend Policy links additional payouts to net cash bands (up to $0.275 total per share at the highest band).

Key dependencies and risks include actual net cash at quarter-ends determining performance payouts, the cash cost of continued buybacks versus other uses, and execution of operations sustaining these cash flows; watch the Nov. 28, 2025 record date and the Dec. 15, 2025 payment date for immediate cash flow impact.

Corporate Finance Strategist

Move increases guaranteed shareholder yield and shows capacity to return capital while using ~$1.0 billion cash for buybacks year-to-date.

The raised base dividend formalises a higher recurring cash outflow and the tiered Performance Dividend Policy creates predictable upside when net cash thresholds are met; share repurchases of ~39.79 million shares (~2.3% of shares at program start) also reduce share count and concentrate EPS and cash-per-share metrics.

Dependencies and cautions: the company must maintain sufficient operating cash generation to fund dividends and buybacks without stressing the balance sheet; the updated policy bases extra payouts on net cash bands (from negative to over $1 billion), so watch reported quarter-end net cash levels and any future disclosure of capital allocation priorities in the next quarterly report within the typical quarter reporting cycle.

All amounts expressed in U.S. dollars

TORONTO, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Barrick Mining Corporation (NYSE:B)(TSX:ABX) (“Barrick” or the “Company”) today announced a 25% increase in its quarterly base dividend to $0.125 per share. Consistent with the Company’s Performance Dividend Policy, Barrick also announced a dividend of $0.175 per share for the third quarter of 2025, inclusive of a $0.05 per share performance dividend.

The Q3 2025 dividend will be paid on December 15, 2025 to shareholders of record at the close of business on November 28, 2025.

In addition to the enhanced quarterly dividend, Barrick repurchased approximately 18.60 million shares during Q3 under the share buyback program that was announced in February 2025. As of the end of Q3, Barrick has repurchased approximately 39.79 million shares under this year’s program, or approximately 2.3% of Barrick’s issued and outstanding shares at the time this year’s program was announced, for cash of $1.0 billion, including $589 million paid during Q3.

The Company’s Performance Dividend Policy has been updated to account for the increase in the base quarterly dividend as follows:

Performance Dividend Level	Threshold Level	Quarterly Base Dividend	Quarterly Performance Dividend	Quarterly Total Dividend
Level I	Net cash less than $0	$0.125 per share	$0.00 per share	$0.125 per share
Level II	Net cash greater than $0 and less than $0.5 billion	$0.125 per share	$0.05 per share	$0.175 per share
Level III	Net cash greater than $0.5 billion and less than $1 billion	$0.125 per share	$0.10 per share	$0.225 per share
Level IV	Net cash greater than $1 billion	$0.125 per share	$0.15 per share	$0.275 per share

“Through a combination of enhanced dividends and share buybacks, we have provided significant financial benefits to our shareholders,” said senior executive vice-president and chief financial officer Graham Shuttleworth. “Along with our strong operating performance, cash flows and strategic initiatives, we expect to continue to provide meaningful returns while maintaining a robust balance sheet.”

About Barrick Mining Corporation

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry—including six of the world’s Tier One gold mines—Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol ‘B’ and on the Toronto Stock Exchange under the symbol ‘ABX’.

Investor Relations Contact

Barrick Mining Corporation
Cleve Rueckert, +1 775 397 5443
cleveland.rueckert@barrick.com

Media Contact

Brunswick Group
Carole Cable, +44 (0) 7974 982 458
barrick@brunswickgroup.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “will”, “perform”, “maintain”, “growth” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Barrick’s operating and financial performance, liquidity available to invest in growth projects, and the potential for Barrick to deliver enhanced dividends to shareholders under its Performance Dividend Policy.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in jurisdictions in which the Company or its affiliates do or may carry on business in the future; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; assumptions relating to the trading price of the Company’s common shares; changes in mineral production performance, exploitation, and exploration successes; disruption of supply routes which may cause delays in construction and mining activities at Barrick’s more remote properties; diminishing quantities or grades of reserves; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; changes in U.S. trade, tariff and other controls on imports and exports, tax, immigration or other policies that may impact trade relations with foreign countries, result in retaliatory policies, lead to increased costs for raw materials and components, or impact Barrick’s existing operations and material growth projects; the impact of inflation; fluctuations in the currency markets; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities that may be presented to, or pursued by, the Company; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; risks related to the failure of internal controls; risks related to the impairment of the Company’s goodwill and assets; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

FAQ

What dividend did Barrick (B) declare for Q3 2025?

Barrick declared a Q3 2025 dividend of $0.175 per share, payable Dec 15, 2025, record date Nov 28, 2025.

How much did Barrick (B) raise its base quarterly dividend by on Nov 10, 2025?

Barrick raised its base quarterly dividend by 25% to $0.125 per share.

How many shares did Barrick (B) repurchase in Q3 2025 and year-to-date?

Barrick repurchased approximately 18.60M shares in Q3 and 39.79M shares YTD under the 2025 program.

How much cash has Barrick (B) used for buybacks under the 2025 program?

The company used approximately $1.0 billion for buybacks year-to-date, including $589 million in Q3.

What is the updated Performance Dividend Policy for Barrick (B)?

The policy keeps a base of $0.125 per quarter and adds performance payments by net cash level up to $0.15, yielding up to $0.275 per quarter.

When will Barrick (B) pay the Q3 2025 dividend and who is eligible?

The Q3 dividend will be paid on Dec 15, 2025 to shareholders of record at the close of business on Nov 28, 2025.