Barrick, Randgold $6bn merger cleared by SAfrica authorities

Barrick Gold and Randgold Resources on Thursday said their proposed $6bn merger had received unconditional clearance from the South African Competition Tribunal.

The merger is still subject to approval by shareholders of both companies next week.

Canada’s Barrick Gold and Randgold said they were increasing their dividend payouts ahead of the votes.

Randgold plans to improve its 2018 dividend by 35% to $2.69 a share from $2, and pay it before the merger closes.

Barrick said it would increase fourth-quarter dividend to 7 cents a share from 5 cents, and a 2018 dividend of 16 cents at a cost of about $65m.