5 Best Materials Dividend Stocks To Buy Now

4. Newmont Corporation (NYSE:NEM)

Number of Hedge Funds: 49

Newmont Corporation (NYSE:NEM) is an important part of the wider basic materials industry. The stock has a dividend yield of about 4%. Newmont Corporation (NYSE:NEM) was one of the stock that enjoyed an industry-wide boost in gold stocks after the precious metal broke the $2,000/oz barrier.

Newmont Corporation (NYSE:NEM) talked about its dividend policies during its Q3 earnings call:

This quarter, we declared a dividend of $0.40 per share or $1.60 per share on an annualized basis. This dividend was declared within our established framework calibrated at a gold price of $1,700 million per ounce and in line with our 2023 dividend payout range of $1.40 to $1.80 per share. Newmont had paid over $5 billion in dividends since closing the Goldcorp transaction in 2019, demonstrating our commitment to our shareholders. On the close of the Newcrest acquisition, Newmont will integrate 5 new operations into our robust global operating model.

February of next year, we expect to provide our 2024 outlook for the combined company with our fourth quarter and full year results. Consistent with our process, our outlook will inform our 2024 dividend payout range, which we will calibrate within our established dividend framework. As a reminder, we assess the variable portion of our dividends annually in alignment with the business planning cycle, projected cash flows and the current macroeconomic environment. Similar to this year, our 2024 dividend payout range will apply to our fourth quarter dividend to be declared in February and will be reviewed and approved by our Board of Directors each quarter. For a longer-term view of our portfolio, we will apply a disciplined and thoughtful approach to setting market guidance for the combined company.

Read the full earnings call transcript here.