Gold Fields Plans Extra $500 Million in Returns in Next Two Years, Updates Dividend Policy

By Adam Whittaker

Gold Fields outlined a revised dividend policy as part of a five-year plan aimed at maintaining its production profile and cutting costs.

The South African gold miner said it would target a base dividend of 35% of free cash flow before discretionary growth investments, with a minimum return of 50 U.S. cents a share a year.

In 2024, the company's dividend represented 43% of free cash flow before discretionary growth investments. It was 40% in 2023 and 44% in 2022.

Additionally, it plans to return up to $500 million to shareholders via buybacks or special dividends over the next two years. The timing and composition of these returns will be issued alongside the final 2025 dividend declaration, it said.

At its capital markets day Wednesday, the miner will also set out how it expects to maintain production of between 2.5 million and 3 million ounces of gold equivalent a year. The company will also look to improve its cost base and extend mine life into the next decade, it said.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

November 12, 2025 04:48 ET (09:48 GMT)