John Welborn, Managing Director & CEO Resolute Mining Limited, with Richard Hayes, Perth Mint Chief Executive Officer, and part of the Resolute dividend payment in gold bullion.
A unique initiative has been launched today to give Resolute Mining Limited shareholders the opportunity to receive dividend payments in gold.
Resolute has today announced a dividend of 1.7c per share following the adoption of an innovative gold sales-linked dividend policy. Their partnership with The Perth Mint will provide shareholders with the opportunity to receive dividend payments in gold.
Shareholders who hold 5,000 or more Resolute shares will be able to elect to be paid their dividend payment in gold via a personal account held with The Perth Mint. This account will allow shareholders to securely store and accumulate Resolute gold dividends, buy and sell gold and other precious metals, and convert gold balances into a range of bars and coins subject to the terms and conditions of The Perth Mint Depository Online program.
Resolute’s Managing Director and CEO, Mr John Welborn, commented that the Company’s recent strong performance had allowed the adoption of a unique new dividend policy:
“The 2016 financial year has been transformational for Resolute with the generation of a record profit of A$213 million, a stunning turnaround in the strength of the Company’s balance sheet, and the completion of a number of key studies designed to ensure long term profitable gold production.
"Resolute’s new gold sales-linked dividend policy rewards our shareholders by providing a sustainable income stream that allows direct participation in our ongoing production success. Having generated sales of more than 7 million ounces of gold from over 25 years of continuous production, and with over 14 million ounces of gold in Reserves and Resources at our existing projects, Resolute shareholders will now be rewarded with a dividend based on a fixed proportion of future revenue from our gold production.”
“I am particularly proud of this new innovative dividend policy which provides a unique opportunity for our shareholders, if they wish, to receive their dividend payments in gold. Our partnership with The Perth Mint is a perfect opportunity for investors who seek direct exposure to our underlying commodity.”
The Perth Mint operates the only government guaranteed investment and storage program in the world and has been offering private precious metal storage options for investors since 1999. This service now includes an innovative and modern platform which allows investors to hold and trade precious metals online.
CEO of The Perth Mint, Mr Richard Hayes, commented: “The Perth Mint ardently supports Resolute’s bold and unique initiative to be the first gold miner we have worked with to pay its shareholders their dividends in gold. Innovation is a key driver in our business and we are delighted to partner with one of our most successful long term clients to provide them with these facilities.”