Barrick Gold reports record cash flow, increases quarterly dividend

By Lisa Kerner

Charlotte, N.C., Oct. 27 - Barrick Gold Corp. was able to increase its third-quarter dividend by 25%, or 15 cents per share, due to strong earnings and record operating cash flows, said president and chief executive officer Aaron Regent during the company's earnings call on Thursday.

Net earnings for the period were up 45% from the prior year at $1.37 billion, while EBITDA increased 47% to $2.46 billion.

Barrick reported a record operating cash flow of $1.89 billion, up 35% from the $1.40 billion reported for the third quarter 2010.

Regent said the Toronto-based gold mining company is on track to achieve its original full-year operating targets.

As of Sept. 30, Barrick had a cash balance of $3 billion and $1 billion available for drawdown under its credit facilities.

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