GlobeNewswire Inc | Aug 10, 2020 06:11AM EDT

August 10, 2020

TORONTO, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that its Board of Directors has declared a dividend for the second quarter of 2020 of US $0.08 per share, a 14% increase on the previous quarters dividend, payable on September 15, 2020, to shareholders of record at the close of business on August 31, 2020.1

Senior executive vice-president and chief financial officer Graham Shuttleworth said that Barricks quarterly dividend has more than doubled since the announcement of the Barrick-Randgold merger in September 2018, reflecting Barricks continued strong financial performance.

The Board believes that the dividend increase is sustainable and is reflective of the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet, with total liquidity of $6.7 billion, including a cash balance of $3.7 billion as of the end of the second quarter, and no material debt repayments due before 2033, said Shuttleworth.

Enquiries:

President and CEOMark Bristow+1 647 205 7694+44 788 071 1386

Senior EVP and CFOGraham Shuttleworth+1 647 262 2095+44 779 771 1338

Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com

1 The declaration and payment of dividends is at the discretion of the Board of Directors, and will depend on the companys financial results, cash requirements, future prospects and other factors deemed relevant by the Board.