Mexico-focused Gold Resource Corp (AMEX:GORO) announced Wednesday that it will be distributing its twelfth special cash dividend to shareholders, benefiting from the start of commercial production at its El Aguila project last July.
The cash dividend, which has been increased to $0.04 per common share, will be paid to shareholders of record as of July 11, payable on July 22, 2011. The dividend, the twelfth in as many months since commercial production, is a direct result of cash flow generated from the company’s El Aguila operations, located in the southern state of Oaxaca, Mexico.
The total dividends declared since production now stands at $0.39 per share.
“Our twelfth monthly dividend marks a milestone for the company and underscores our longstanding focus to return cash back to the owners of the company, its shareholders,” said president Jason Reid.
Gold Resource owns five potential high grade gold and silver properties in Oaxaca.