Barrick Gold FY Profit Down

(RTTNews) - Barrick Gold Corp. (GOLD, ABX.TO) reported that its net earnings attributable to the equity holders of the company for fiscal year 2020 declined to $2.32 billion from $3.97 billion in the prior year. On a per share basis, net income was $1.31 compared to $2.26 in the previous year.

Adjusted net income was $1.15 compared to $0.51 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.14 per share for fiscal year 2020. Analysts' estimates typically exclude special items.

Revenues for the year rose to $12.60 billion from $9.72 billion in the prior year. Analysts expected revenues of $12.5 billion for fiscal year 2020.

Barrick Gold plans to propose to shareholders a return of capital distribution of approximately $0.42 per share. It has also declared a dividend for the fourth quarter of 2020 of $0.09 per share, payable on March 15, 2021, to shareholders of record at the close of business on March 1, 2021.

The return of capital will be proposed to shareholders at its Annual and Special Meeting on May 4, 2021.