Goldcorp Reduces Dividend and Changes to Quarterly Payment; Dividend Reinvestment Plan to be Implemented

OREANDA-NEWS. March 01, 2016. GOLDCORP INC. (TSX: G, NYSE: GG) today announced that it has reduced its annual dividend to \\$0.08 per share effective April 1, 2016 and amended its dividend payment schedule such that future dividends will be paid quarterly commencing in June 2016.  

Expected dates for 2016 for the quarterly dividend payments are set out in the table below:

The Company also announces that it has adopted a Dividend Reinvestment Plan ("DRIP"), which it expects to be implemented prior to the payment of the June 2016 dividend.   The adoption of the DRIP will offer shareholders an opportunity to increase their investment in Goldcorp without additional transaction costs by receiving dividend payments in the form of common shares of the Company. 

The DRIP will allow shareholders to reinvest their cash dividends into additional common shares issued from treasury at a 3% percent discount to the average market price calculated at the time of dividend payment.  Participation in the DRIP is optional and will not affect shareholders' cash dividends unless they elect to participate in the DRIP.  Participation in the DRIP is open to all registered and beneficial shareholders in Canada and the United States.  Shareholders that are resident in jurisdictions other than Canada and the United States may also participate in the DRIP, subject to any restrictions of laws in such shareholder's jurisdiction of residence.  Dividends are only payable as and when declared by Goldcorp's Board of Directors and there is no entitlement to any dividend prior thereto. The Company may, from time to time, in its discretion, change or eliminate the discount applicable to treasury acquisitions or direct that such common shares be purchased in market acquisitions at the prevailing market price, any of which would be publicly announced.

The Company will provide additional information regarding participation and enrollment in the DRIP well in advance of the implementation.

About Goldcorp

Goldcorp is a leading gold producer focused on responsible mining practices with safe, low-cost production throughout the Americas.  A portfolio of long-lived, high-quality assets positions Goldcorp to deliver long-term value.