Its shares joined the ASX thanks to the mega-merger that saw Newmont swallow up what was the ASX's largest gold miner, Newcrest Mining. Every investor who owned Newcrest shares when the merger was finalised was issued 0.4 Newmont shares for every share owned.
As an ASX share, Newcrest used to pay out biannual dividends. But seeing as Newmont is an American company at heart, its investors will now enjoy dividend payments every quarter, as is the norm across the Pacific.
We don't yet know what that amount will be in exact Australian dollar terms just yet (to be determined on 19 December). But at the current US/Australian dollar exchange rate, it would come to approximately 60 cents per share in the local currency.
However, if there are any investors out there who are determined to bag this first ASX Newmont dividend, but haven't yet bought Newmont shares, I'm afraid you're too late. That's because the Newmont share price has just today traded ex-dividend for this upcoming payout.
Newmont shares to give ASX investors their first dividend
When a company trades ex-dividend, it draws a line in the sand regarding which shareholders are eligible to receive the payment. Put simply, those investors who owned Newmont stock as of yesterday's closing bell will get this latest payout. Those who buy the shares from today will miss out.
We usually see a bit of a share price fall whenever a share trades ex-dividend, reflecting this inherent loss of value. But a huge swell in the gold price overnight appears to have overcome today's ex-dividend date.
Gold is currently trading at US$2048 an ounce, its fourth consecutive session rise. Newmont shares closed at $57.29 a share yesterday. But those same shares are currently up a whopping 5.6% at $60.50 a share at the time of writing.
Eligible investors can now look forward to seeing this first Newmont dividend arrive in their bank accounts next month on 22 December, just in time for Christmas.
At that rate of 60 cents per share, this first Newmont dividend will give the gold miner a dividend yield of 0.99% at the current share price, or 3.96% annualised.