Australian Mining Company Offers Gold Dividends Option
Holding physical precious metals continues to be in high demand around the world. In fact, the need for physical gold is so high that Australian-based mining company, Resolute Mining, is offering to pay out investor dividends in the yellow metal.
In an unprecedented move, the mining company’s new policy states that “shareholders with more than 5,000 shares can opt to receive their dividend payment in gold through a personal account held with the government guaranteed Perth Mint.”
John Welborn, Resolute’s Managing Director & CEO, with Richard Hayes, The Perth Mint’s CEO
According to Resolute’s managing director and CEO, John Welborn, the idea is a result of company’s “solid production” and “robust financial position”. Resolute is making a record net profit after taxes of $213 million for the 2016 financial year.
What’s more, the move will allow shareholders to “safely store and accumulate Resolute dividends in gold and have the ability to convert their gold balances into cash or physical gold bullion.”
“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,” said Welborn.
In a way, Resolute is not only providing their investors with the option to convert their gains into gold but also moving back to its own form of gold standard. It’s an option open to few companies. (Apple would probably never pay its investors in iPhones.)
Resolute’s golden move is more than just windfall profits for mining. It comes at a time of falling global interest rates, low bond yields, a weak dollar, and an impressive year for gold, (up 26% this so far in 2016). Any way you slice it, it’s a great time to buy gold to diversify your portfolio and retain your wealth.
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