Gold Resource Corporation Reports September Monthly Dividend
Gold Resource Corporation (NYSE: GORO) announced its monthly instituted dividend of $0.01 per stock for the month of September, which is payable to investors on October 23, 2014. September's monthly dividend report marks GORO's milestone of returning more than 100 million cash dividends to shareholders since its public production in 2010.
As of September 2014, the company has paid 51 consecutive dividends per month to its investors.
"We reached a major milestone for a junior precious metal producer now having returned over one hundred million dollars back to the owners of the Company, its shareholders, in just over four years," said Jason Reid, the president and CEO of Gold Resource Corporation. "This achievement is not only rare for a junior miner, but coupled with our conversion program allowing shareholders to convert cash dividends to physical gold and silver, is unique to this industry. Both the level of dividends and the cash to physical metal conversion option underscore management's shareholder friendly and focused philosophy. We remain committed to monthly dividends and the physical conversion option not only during these current volatile metal markets, but look forward to the future when hopefully the bull market in the metals space returns."
The cash dividend conversion that Reid is talking about is GORO’s “Double Eagle” program that allows investors to receive .999 fine gold or silver coins as part of their dividend payout. It is a unique way to get exposure in gold, since investors can mix their dividends with cash and precious metals. In an article by BullionVault, Herve Hannoun of Banque de France points out that gold remains an important investment today, even if it’s not an interest-bearing asset, because of three things: security, liquidity, and diversification.
GORO’s dividends vary in amount and regularity, and can be ceased at the Board of Directors’ judgment.
About Gold and Resource Corporation
Gold Resource Corporation is a gold mining company with projects that feature low-operational costs and high investment returns. Its main focus is on cash flow, with priority on dividends for investors and owners of the company. It has a total of 54,179,369 shares outstanding and no warrants. The company is currently exploring new mining deposits at its Oaxaca Mining Unit located in Southern Mexico.
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I had read about this company offering dividends to shareholders in the form of physical gold. While an interesting concept there are a lot of strings to actually getting the gold delivered and for most investors receiving a small amount of gold may not be worth the expense and hassle. Still, an interesting and innovative way to pay out dividends to people who want gold. Thanks for sharing.
ReplyDeleteI have never heard of this concept, but having a little gold in hand is an interesting idea. Are you an investor? If so have you received any gold or silver? I assume silver would be preferred for me otherwise I would need a magnifying glass to see the gold I receive as a dividend :-)
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