AngloGold Ashanti (AU) DIvidends Date & History

Key Takeaways

• AngloGold Ashanti offers a trailing dividend yield of approximately 4.59%, paid quarterly on an interim basis.
• Recent dividends have grown sharply, with a Q4 2025 payout of $1.73 per share, contributing to total 2025 dividends of $3.57 annually.
• Payout ratio around 49%, covered by strong earnings (EPS $5.18 TTM) and record free cash flow of $2.9 billion in 2025.
• Dividend policy targets 50% of free cash flow (operating cash flow minus capex), with a $0.50 annual base, ensuring sustainability tied to performance.
• Low debt (23% debt-to-equity) and $2.6 billion levered FCF support ongoing payments amid gold price strength.
• Higher yield than peers like GOLD (1.88%) and NEM (0.96%), but similar to GFI (5.51%).

Dividend Overview

AngloGold Ashanti plc (AU), a leading gold producer with operations in Africa, Australia, and the Americas, maintains a progressive dividend policy linking payouts to free cash flow generation. The company pays interim dividends quarterly, with a current trailing yield of 4.59% based on a $4.26 forward annual dividend and recent stock price around $90. In 2025, total dividends reached a record $1.8 billion ($3.57 per share), including a standout Q4 interim dividend of 173 US cents ($1.73) per share, ex-date March 13, 2026, and paid March 27, 2026. This positions AU as a high-yield play in the gold sector, appealing to income investors during periods of elevated gold prices, though payouts remain variable based on commodity cycles rather than fixed growth commitments.

Dividend History and Growth

AngloGold Ashanti has demonstrated robust dividend growth recently, transitioning from modest semi-annual payments to quarterly interims under its updated policy. In 2024, dividends included 19 US cents (H2) and 22 US cents (H1 2024), totaling around 41 cents. This escalated in 2025 with payments of 12.5 cents (Q1), 80 cents (Q2), 91 cents (Q3), and 173 cents (Q4), reflecting surging free cash flow from higher gold prices ($3,468/oz realized) and production gains (+16%). The policy shift to 50% FCF payout with a $0.50 base has driven over 290% year-over-year growth in some metrics, though historical yields fluctuated with gold cycles—no long-term consecutive increase streak like Dividend Aristocrats, but consistency improved post-2024.

Dividend Sustainability and Payout Ratio

The dividend appears sustainable, backed by a 48.75% payout ratio on earnings (EPS $5.18 TTM) and strong cash flow coverage. In 2025, record FCF of $2.9 billion (up 204% YoY) covered 62% of dividends, with operating cash flow at $4.78 billion exceeding capex ($1.45 billion). Levered FCF stands at $2.6 billion TTM, while debt remains manageable at 23% debt-to-equity ($2.28 billion total debt) and a current ratio of 2.87. The policy caps leverage at 1x adjusted net debt/EBITDA, providing buffers against gold price volatility. Stress tests confirm liquidity for at least 12 months, supporting ongoing payouts tied to operational discipline.

Dividend Compared to Industry Peers

AngloGold Ashanti's 4.59% yield outpaces major gold peers, positioning it as a standout for income. GOLD (Barrick) yields 1.88%, NEM (Newmont) 0.96%, and AEM (Agnico Eagle) 1.00%. GFI (Gold Fields) is closer at 5.51%, but AU's FCF-linked policy offers upside in high-gold environments versus more conservative fixed payouts at peers like KGC (Kinross, under 1%). This makes AU attractive relative to the sector average of 1-2% for large-cap producers.

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Is This Stock Attractive for Dividend Investors?

AngloGold Ashanti appeals to income investors seeking elevated yields from cyclical commodities, particularly those comfortable with gold price exposure. Its 4.59% yield and FCF-tied policy suit yield chasers prioritizing current income over steady growth, especially amid 2025's record payouts driven by $2.9 billion FCF. Conservative dividend growth investors may prefer peers like AEM with longer streaks and lower volatility, given AU's history of variable payments tied to metal prices. Long-term holders benefit from the $0.50 base dividend floor and strong coverage (49% payout, robust FCF), but operational risks in Africa warrant caution. High-yield enthusiasts drawn to sector outperformance versus GOLD or NEM find appeal, balanced by low leverage and liquidity ($4.4 billion). Overall, it fits aggressive income portfolios monitoring gold trends.

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