Newmont Mining Corp. on Feb. 20 declared a fourth-quarter 2017 dividend of 14 U.S. cents per share, which is nearly three-times higher than the dividend of 5 cents per share announced in the year-ago period.

The proposed dividend will be paid March 22 to shareholders on record as of March 8.

"This increase reflects our strong balance sheet and steady long-term production profile — and our equally strong conviction that we can continue to generate superior returns while investing in the next generation of Newmont mines," President and CEO Gary Goldberg said.

For 2018, the company expects attributable gold production to increase to between 4.9 million and 5.4 million ounces and all-in sustaining costs of between US$965/oz and US$1,025/oz as improved gold costs applicable to sales offset increases in exploration and advanced projects spend.