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AuRico Gold (NYSE: AUQ ) has joined the ranks of corporate dividend payers. The precious-metals company will make its first distribution next month, handing out $0.04 per share of its stock on April 18 to shareholders of record as of April 4.
This follows its decision to hand out $0.16 per share for 2013, which will be divided evenly throughout the four quarters of the year. In future periods, AuRico Gold's quarterly dividend will be dependent on its operating cash flow. Each quarter, the company will distribute to shareholders 20% of its OCF generated in the prior quarter.
The new dividend's annual rate of $0.16 per share yields 2.6% at AuRico Gold's current stock price of $6.13.