Barrick boosts dividends after record quarter

Barrick Mining raised its dividend and buyback program following a stronger profit estimate than expected in Q3 CY25.

The miner increased its share buyback program by $765.67m (US$500m) to $2.3b (US$1.5b). This comes off the back of a tumultuous year for Barrick with the $1.53b (US$1b) write-off of its Loulo-Gounkoto gold mine in Mali and the exit of chief executive Mark Bristow earlier this year.

Despite the ongoing dispute, the miner generated $6.28b (US$4.1b) in revenue, as well as a record $3.68b (US$2.4b) in operating cash flow backed by surging gold prices.

Barrick produced 829,000oz of gold, down from 943,000oz the year prior.

Barrick interim group chief operating officer, president and executive officer Mark Hill comments on the performance.

“Higher gold production combined with lower costs and strong commodity prices drove record cash flow for Barrick in Q3,” he said.

“This allowed us to significantly increase our share repurchases.

“Given the confidence in ongoing cash flow generation and shareholder focus, the board has approved a 25% increase in the base quarterly dividend.”

Barrick repurchased about 18.6 million shares at the end of Q3 through its buyback program, announced in February 2025.

By the end of Q3, Barrick was able to repurchase about 39.79 million shares, allowing Barrick to increase base quarterly dividends.

Barrick says its 2025 guidance will remain unchanged and is confident that the quarterly production will be highest in Q4.