Return of CapitalIs the return of capital proposed by Barrick, relevant to KL, with its surplus funds?
https://themarketherald.ca/barrick-proposes-return-of-capital-distribution-and-declares-dividend-2021-02-19/ Senior vice-president and chief financial officer Graham Shuttleworth said that the return of capital distribution demonstrates Barrick’s commitment to return surplus funds to shareholders as outlined in the strategy announced at the time of the Randgold merger in September 2018. Since that time, the quarterly dividend has tripled, and this capital distribution further increase returns to shareholders.
“The Board believes that the return of capital distribution is the most efficient way to return these surplus funds to shareholders. Based on the current number of outstanding shares, this distribution represents approximately 14 cents per share for each tranche, approximately 42 cents per share in total. In addition to the current quarterly dividend of 9 cents per share, this distribution will provide shareholders with a significantly enhanced return in 2021,” said Shuttleworth.