Gold giant Barrick Gold has increased its June dividend to $0,20 a share from $0,15 a share last year, the company said on Tuesday.

The dividend is payable on June 16 to shareholders of record at the close of business on May 30, 2008.

“The 33% increase in the dividend demonstrates Barrick's continuing strong cash flow generation in this high metal price environment,” the gold-miner said.

“In combination with its 'A' rated balance sheet, this gives the company the financial flexibility to return additional value to shareholders while maintaining the ability to develop its project pipeline without the need for equity dilution.”