ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

Al Azhar‚Äôs 14th International Conference on: Engin  - Conference
Dec 12, 2017 - Dec 14, 2017
WM2E 2017 Energy Tech Expo  - Exhibit
Dec 14, 2017 - Dec 16, 2017
George Fox Conference  - Conference
Jan 24, 2018
2018 SME Annual Conference & Expo  - Conference
Feb 25, 2018 - Feb 28, 2018

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Resolute Mining to offer dividends in physical gold or cash
August 30, 2016

Resolute Mining is giving some of its shareholders a unique choice of a cash dividend or gold.

The option is for those who hold more than 5,000 shares and it could pay off if the price of gold keeps rising. It is already standing at near-record levels in Australian dollar terms, and if the local currency falls further against the U.S. dollar, this could see a high return for those holding shares in the Australian company.

The Sydney Morning Herald reported that the company is joining the ranks of gold miners sharing their largesse with shareholders by paying a dividend, thanks to the strength of the gold price.

Resolute, which has gold mines in Queensland, Mali and Ghana is to pay a dividend of 1.7cents a share. So, holders of 5,000 shares will receive the equivalent in gold valued at $85. To complete the deal, you need to have an account with the Perth Mint, with the gold to be paid into your account.

"Shareholders will be able to safely store and accumulate Resolute dividends in gold and have the ability to convert their gold balances into cash or physical gold bullion," the miner's chief executive, John Welborn said.

The miner reckons it will be giving shareholders more than 2 per cent of its gold output annually via the new approach.

Resolute is producing around 3.2 million ounces of gold annually, indicating it expects to distribute 64,000 ounces directly to investors.

The company is targeting retail investors as the most likely to take up the option of receiving gold metal rather than cash for their dividends, although institutional investors have been occasional holders of gold bullion. But the lack of a return from owning gold directly is a disincentive for most.

 

Related article search: