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Gold Resource Corp Says July Dividend Marks Three Dividend-Paying Years

Jul. 30, 2013 3:28 PM ETGORO
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Gold Resource Corp (NYSE MKT:GORO) declared its monthly dividend of 3 cents per common share for July on Tuesday, payable on August 23 to shareholders of record as of August 12.

The company, which declared its first monthly dividend three years ago in July 2010, has now returned more than $86 million, or $1.64 per share to its shareholders in the form of 36 straight monthly dividends. The gold producer's shares went public in 2006 for $1.00 apiece.

"This company was created to pay a meaningful dividend," said president Jason Reid. "We are proud to have paid consecutive monthly dividends these past three years and look forward to continuing our shareholder focused approach."

Last week, Gold Resource Corp reported that an employee was fatally injured in a rock fall accident at its La Arista underground mine in Mexico, with operations temporarily suspended as an investigation is still underway.

Earlier this month, the company reported its preliminary production results for the second quarter, maintaining its full year outlook. The U.S.-based gold producer with operations in Oaxaca, Mexico, reported production of about 20,500 ounces of precious metal gold equivalent for the three months to June 30. This compares with 14,488 ounces of gold equivalent in the same period last year. It stood by its outlook for the full year, for output of between 80,000 to 100,000 ounces of gold equivalent.

The planned expansion of the Aguila mill to a nominal 1,500 tonnes per day progressed well during the quarter, according to the company's statement, with the target to complete the project by year-end.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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