COLORADO SPRINGS, Colo., April 30, 2012 /PRNewswire/ -- Gold Resource Corporation (NYSE Amex: GORO) is pleased to announce it has increased its instituted monthly dividend to $0.06 per common share for April 2012 payable on May 23, 2012 to shareholders of record as of May 10, 2012. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.
The April dividend marks the 22nd consecutive monthly dividend declared by Gold Resource Corporation, and raises the dividend by 20% from the previous monthly instituted dividend. This represents a current annualized dividend of $0.72 per common share, and a dividend yield of 2.7% based on the April 27, 2012 share closing price. Gold Resource Corporation has declared over $47 million in dividends since commencing commercial production in July 2010, and now offers shareholders a convenient option to convert their cash dividends into physical gold and/or silver on a monthly basis.
Gold Resource Corporation's President, Mr. Jason Reid stated, "With record first quarter production, the increased April dividend to six cents per common share per month speaks to the positive outlook we have for the continued success and production trajectory of the Aguila Project. We have set a strong base for our 2012 production goals, and our dividend policy continues to reward the owners of the Company, its long term shareholders."
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. The Company has 52,902,620 shares outstanding, no warrants and no debt. 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 Securities and Exchange Commission
SOURCE Gold Resource Corporation