Barrick Mining Corp. is wooing investors with payouts and share buybacks as new leadership seeks to turn around its mining operations amid surging gold prices.
The world’s second-biggest gold producer boosted its quarterly payout by 25% and approved a “performance dividend” of five cents a share, Barrick said in a statement Monday after posting third-quarter results. Barrick’s board also authorized an additional buyback of $500 million “in light of exceptionally strong cash flow.”