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Gold Resource Corp increases annual dividend to $0.04 from $0.02 per common share

The October dividend also marks the 112th consecutive monthly dividend declared by Gold Resource, which has returned $112 million to its shareholders since July 2010

Gold Resource Corporation - Gold Resource Corporation increases its instituted annual dividend from $0.02 per common share to $0.04 per common share
The Colorado-based company is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada

Gold Resource Corporation (NYSEAmerican:GORO) announced Wednesday it has increased its instituted annual dividend from $0.02 per common share to $0.04 per common share.  

In a statement, the company said this move increases the monthly dividend to one-third of a cent per common share for October 2019 payable on November 25, 2019 to shareholders of record as of November 12, 2019. 

The October dividend also marks the 112th consecutive monthly dividend declared by Gold Resource, which has returned $112 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 

READ: Gold Resource Corp's Isabella Pearl mine shines as group reports record gold output in third quarter

“Dividends have always been an important component of Gold Resource’s corporate philosophy,” said CEO Jason Reid. “I am very pleased to declare a dividend increase the same month our Nevada Mining Unit declared commercial production as well. Our company has always embraced the expression ‘earnings are opinion, cash is fact,’ and these cash dividends are milestones not many other mining companies ever achieve.” 

Reid continued: “With the commercial production announcement at our Nevada Mining Unit’s Isabella Pearl mine earlier this month, and this one hundred percent dividend increase, Gold Resource Corporation has now transformed into a multi-jurisdiction mining company with two mining units contributing to shareholder dividend distributions.”

He also noted that there could be “potential additional dividend increases in the future as well as allocating capital from our expanding operations for the growth of the company by exploring and developing the large property positions the company has amassed at both its mining units.”

Gold Resource Corporation, based in Colorado Springs, Colorado, is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada. 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Gold Resource Corporation

Price: 3.02 USD

NYSEMKT:GORO
Market: NYSEMKT
Market Cap: $211.63 m
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