Newmont Holder Vote on Goldcorp Deal Clears Way for Special Dividend

Date : 04/11/2019 @ 3:52PM
Source : Dow Jones News
Stock : Goldcorp (G)
Quote : 14.2  0.0 (0.00%) @ 12:00AM
Goldcorp Inc. share price Chart

Newmont Holder Vote on Goldcorp Deal Clears Way for Special Dividend

Newmont Goldcorp (NYSE:NEM)
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By Colin Kellaher

 

Newmont Mining Corp. (NEM) on Thursday said its shareholders approved the authorization and issuance of common shares needed for its $10 billion takeover of Goldcorp Inc. (GG, G.T), paving the way for Newmont to pay the special dividend it offered to placate investors who were unhappy with the deal.

Newmont said the vote, coupled with last week's approval of the deal by Goldcorp's shareholders, satisfied the conditions of the 88-cent dividend, which it will pay on May 1.

Newmont proposed the payout last month after two large shareholders said the Goldcorp deal transferred away significant gains from a Nevada joint venture between Newmont and Barrick Gold Corp. (ABX.T).

Denver-based Newmont said it expects to complete the Goldcorp transaction during the second quarter.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 11, 2019 11:37 ET (15:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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