The success of American Barrick Resources (TSE) at the Goldstrike mine in Nevada is paying off for shareholders not only of Barrick but of Franco-Nevada Mining (TSE).
Barrick announced a 2-for-1 stock split (the company currently has about 145.6 million shares outstanding on a fully diluted basis) and a small dividend increase equal to US8 cents per split share per year. Franco, a gold royalty company with interests in Goldstrike, announced a doubling of its annual dividend to 60 cents. An affiliated company, Euro-Nevada Mining (TSE), with an extensive list of royalty properties, also boosted its annual dividend, to 5 cents.
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