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NEM Named 'Top Dividend Stock of the S&P Metals & Mining Index' at Dividend Channel With 3.1% Yield

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Newmont Corp (NYSE:NEM) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&P Metals & Mining Index, NEM shares displayed both attractive valuation metrics and strong profitability metrics. For example, the recent NEM share price of $71.06 represents a price-to-book ratio of 2.5 and an annual dividend yield of 3.1% — by comparison, the average dividend paying stock in the S&P Metals & Mining Index yields 1.5% and trades at a price-to-book ratio of 3.6. The report also cited the strong quarterly dividend history at Newmont Corp, and favorable long-term multi-year growth rates in key fundamental data points.

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The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''

The S&P Metals and Mining Select Industry Index is one of the prominent indices that covers the metals and mining industry. Click here to see the most popular ETF that follows this index, and see the components and their weights, at ETFChannel.com »

The current annualized dividend paid by Newmont Corp is $2.2/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 06/02/2021. Below is a long-term dividend history chart for NEM, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.