5 Dividend Stocks to Buy According to Billionaire Kerr Neilson

2. Barrick Gold Corporation (NYSE:GOLD)

Platinum Asset Management’s Stake Value: $128,839,000

Percentage of Platinum Asset Management’s 13F Portfolio: 3.62%

Dividend Yield as of January 7: 1.94%

Barrick Gold Corporation (NYSE:GOLD) is an explorer, developer, and producer of gold and silver properties. The Toronto, Ontario-based company has projects spread across 13 countries globally and a stable production outlook for the next five to 10 years. Furthermore, there is a potential of increasing production if the company looks further into the possibility of developing the Donlin property in Alaska with NovaGold. Barrick Gold Corporation (NYSE:GOLD) has a 50% stake in the project. Research has shown that the mine has a life of over 30 years with an expected annual production of 1.1 million ounces of gold. The mine is expected to produce 1.5 million ounces of gold annually during the first five years. If the project goes through then, it can add around 30% to Barrick Gold’s current production profile of around 4.5 million ounces of gold. Furthermore, Barrick Gold Corporation (NYSE:GOLD) is intending to bring the Porgera assets back online, which will be a catalyst in future production increases.

Kerr Neilson held over 7.1 million shares in Barrick Gold Corporation (NYSE:GOLD), worth nearly $129 million at the end of Q3 2021. The investment represents 3.62% of the overall portfolio, down from 4.57% in the preceding quarter.

Following the Q3 2021 earnings results, the company announced a nine-cent dividend per share. The stock has a forward dividend yield of 1.94% as of January 7. In addition to this, Barrick Gold Corporation (NYSE:GOLD) announced the third and final tranche of a special dividend of 14 cents per share or $250 million to be paid along with the quarterly dividend. The first two tranches of $250 million were paid in June 2021 and September 2021.