Gold Fields Announced Major Updates on Yamana Gold Acquisition

SEATTLE (Scrap Monster): Gold Fields Limited provided a market update regarding the proposed acquisition of all the outstanding common shares of Yamana Gold Inc. The company announced two important developments which will boost the value of the transaction to its shareholders.

The company will revise its dividend policy to enable it to declare an interim and final ividend in respect of each financial year, based on 30-45% of the normalised earnings attributable to owners of the parent. Under the revised policy, the company will pay shareholders 30% to 45% of normalized earnings at the interim and final dividend stages. This is significantly higher from the previously announced payout range of 25% to 35%, noted the press release.

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Furthermore, Gold Fields will make a 45% payout for the 2023 interim and final dividends, upon completion of the Yamana acquisition.

Upon completion of the acquisition transaction, the company will apply to have its securities listed on the TSX, which in turn will provide shareholders additional flexibility at limited incremental cost. The proposed listing will be in addition to existing listings on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE).