Denver-based Newmont Mining Corp. has further sweetened a dividend payout plan tied to the price of gold.
The company said on Monday that its annual dividend could rise to $4.70 per share if gold reaches $2,500 per ounce. The previous dividend plan would have paid out a smaller $3.20 per share.
A payout of $4.70 per share would be a 7 percent yield for those who purchased the stock at its price Monday of around $66 a share.
Gold was trading above $1,800 an ounce on Monday after concerns rose that Greece might default on its debt.
Newmont in April tied its dividend payout to the price of gold. The first payout under the new enhanced plan is set for Dec. 30, based on the price of gold in the third quarter.
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or
