Gold Resource Corporation Increases Dividend 100%, Declares October Monthly Dividend
Colorado Springs, CO - (NewMediaWire) - October 23, 2019 - 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