Gold Resource Corporation (GORO) announced a 20% increase to its dividend this morning, marking the third time the low-cost gold producer has given its shareholders a big raise in the last year.
Gold Resource declared a monthly dividend of $0.06 per share, topping the $0.05 per share it had paid each month since September. The company, which raised its payout by 33% last April and tacked on a 25% dividend hike four months later, has now doubled its payout over the last 12 months.
Gold Resource, which focuses its efforts in southern Mexico, also made headlines earlier this year when it announced shareholders would be able to receive their dividends in physical gold.
Shares of GORO closed last week trading at $27.09, where they now carry a 2.66% dividend yield. The stock is up 28% already this year.
If last year was The Year of Golden Dividend Hikes, then 2012 is quickly shaping up to be its sequel. In addition to today’s news, already this year Randgold Resources (GOLD) has doubled its annual dividend, Freeport-McMoRan (FCX) has upped its payout by 25%, AngloGold Ashanti (AU) has given its shareholders a huge 122% raise, Kinross Gold (KGC) raised its dividend by 33%, and Gold Fields (GFI) became the highest-yielding gold producer with a 130% dividend hike.