According to Mining News Pro - The decision represents a “significant increase to its industry-leading dividend,” the company said.

In January, Newmont announced it will increase its quarterly dividend to US$1.00 per share annually.

The company said that future quarterly dividends would depend on the company’s financial results, cash flow, and duration and impact of the COVID-19 pandemic.

Midday Wednesday, Newmont’s stock was up 3.3% on the New York Stock Exchange. The company has a US$49.5-billion market capitalization.