COLORADO SPRINGS, CO, Oct. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) is pleased to announce it has increased its instituted annual dividend from $0.02 per common share to $0.04 per common share. This 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. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.
This October dividend marks the 112th consecutive monthly dividend declared by Gold Resource Corporation and increases the dividend by 100% from the previous instituted rate. The Company 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. For more information on Gold Resource Corporation’s physical dividend program, visit the Company website at http://www.goldresourcecorp.com/gold-silver-dividends.php.
Gold Resource Corporation’s CEO & President, Mr. Jason Reid stated, “Dividends have always been an important component of Gold Resource’s corporate philosophy. In July 2010, the Company declared its first monthly dividend distribution the same month its Oaxaca Mining Unit reached commercial production. On behalf of the Company’s Board of Directors, 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.”
Mr. 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. Dividends from our operations are important in that they reward and return cash to our shareholders. I am excited for 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.”
Dividends may vary in amount and consistency or be discontinued at the Board of Directors’ discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, construction, spot gold and silver prices, taxation, general market conditions and other factors described in the Cautionary Statements below and the Company's public filings with the U.S. Securities and Exchange Commission.
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $112 million back 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. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company’s 10-K filed with the SEC.