Fortitude Gold Corp. (OTCQB:FTCO) said it has increased its monthly dividend by 50% to $0.03 per common share, or $0.36 annually.
The company noted that a $0.03 per common share monthly dividend for May 2021 is payable on May 28, 2021, to shareholders of record as of May 17, 2021.
“We believe that earnings are opinion, cash is fact,” Fortitude Gold’s CEO and president, Jason Reid said in a statement.
Reid added: “The Board of Directors is pleased to reward shareholders with a fifty percent cash dividend increase, which reflects our ability and confidence to generate significant free cash from our high-grade Isabella Pearl gold mine. The Company is delivering on strong operational performance, strong production numbers and an increasingly strong financial and cash position. This has allowed us to invest in the Company and reward shareholders with both a solid exploration budget targeting additional deposit discovery and mine life coupled with returning significant monthly cash dividends.”
“Fortitude Gold is poised to not only reward current shareholders with a thirty-six cent per share annual dividend but is likely to attract new shareholders who seek dividends and yield. Our objective is to transcend valuations based solely as an equity investment and garner a market premium dividend yield valuation,” he concluded.
Fortitude Gold – which was spun out of Gold Resource Corporation (NYSEAMERICAN:GORO) (FRA:GIH) in January this year - is a US-based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The company’s strategy is to grow organically, remain debt-free and distribute substantial future dividends.
The company’s Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt, with the Isabella Pearl gold mine in current production. Nevada is among the world’s premier mining-friendly jurisdictions.
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Story by ProactiveInvestors
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