COLORADO SPRINGS, CO--(Marketwired - Nov 28, 2016) - Gold Resource Corporation (NYSE MKT: GORO) (the "Company") announced today that its Board of Directors declared a special year-end dividend of one cent ($0.01) per common share payable on December 23, 2016 to shareholders of record as of December 12, 2016. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.
This year-end special dividend is separate from and in addition to the Company's "instituted" dividend which is set at $0.02 per common share per year and distributed on a monthly basis. The Board of Directors approved the year-end special dividend due to the solid financial performance of the Company during the 2016 calendar year. The instituted monthly dividend remains unchanged.
"I am very pleased that the Board of Directors continues to reward shareholders of Gold Resource Corporation with dividends, including this year-end special distribution which is equivalent to fifty percent of our instituted 2016 annual dividend," stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. "We remain optimistic that the return of the precious metal bull market in 2016 will continue into 2017 and look forward to potential future dividends, both instituted and special. Earnings are opinion while cash is fact and we hope all our shareholders appreciate additional cash in their bank accounts as we close out the 2016 year."
The Company has returned over $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical .999 fine gold and silver and take delivery. For more information on Gold Resource Corporation's physical dividend program, visit the Company website at http://goldresourcecorp.com/gold-silver-dividends.php.
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 mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has 56,556,874 shares outstanding, zero warrants, zero debt and has returned over $108 million back to shareholders since commercial production commenced July 1, 2010. Gold Resource Corporation offers 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.