Barrick profit rises 45%, raises quarterly dividend

Barrick Gold (ABX-T) said its board has authorized a 25-percent increase in its quarterly dividend payout.

The world's top gold miner said it is raising its quarterly dividend to 15 cents a share from 12 cents a share.

The upcoming quarterly dividend is payable on December 15 to shareholders of record at the close of business on November 30, the company said.

PROFIT SURGES ON RISING BULLION PRICES

Barrick reported a 45-percent increase in its quarterly profit on Thursday, driven by a sharp increase in bullion prices

Toronto, Ontario-based Barrick said its third-quarter net income rose to $1.37 billion US, or $1.36 a share, from a year-earlier profit of $942 million, or 94 cents.

Excluding one-time items, profit rose to $1.39 billion or $1.39 a share, from $912 million or 93 cents.