Gold Resource Corporation Increases Dividend 100%, Declares October Monthly Dividend
October 23 2019 - 4:30PM
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.
About GRC:
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.
Cautionary Statements:
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.
Contacts:
Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com
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