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  • Gold Resource Corp. (GORO.OB) Declares Initial Special Cash Dividend 0 comments
    Jul 29, 2010 5:54 PM | about stocks: GORO

    Gold Resource Corp. is a mining company focused on the development and production of gold and silver projects that feature low operating costs and produce high returns on capital. The company has a 100% interest in five potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. Notably, earlier this month Gold Resource applied for a NYSE: Amex listing.

    The company announced today that it has declared an initial special cash dividend of $0.03 per common share to its shareholders of record August 16, 2010 and payable on or about August 26th. Since going public in September 2006, Gold Resource has had a specific corporate focus on the ability to return money to its shareholders. In order to accomplish this goal, its management has maintained a disciplined capital structure, generating cash flow from operations.

    Gold Resource started commercial production on July 1, 2010 from its El Aguila Project’s operations in the southern state of Oaxaco, Mexico. The company is very pleased with the project’s performance and this prompted it to declare the special cash dividend which will paid by using some of the cash flow from the El Aguila Project.

    The company’s president, Jason Reid, stated, “We are proud to announce this initial special cash dividend to our shareholders. Though there are no guarantees as to future dividends, we remain steadfast on our longstanding goal to return approximately one-third cash flow generated from operations back to the shareholders.”

    For more information on Gold Resource, please visit their website at goldresourcecorp.com.

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Disclosure: no positions

    Stocks: GORO
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