Gold miner Goldcorp (NYSE: GG ) yesterday announced the payment of its fifth monthly dividend of 2013. It has paid monthly dividend to U.S. shareholders since 2003 while Canadian shareholders who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on the payments.
The board of directors said the quarterly payout of $0.05 per share is payable on May 24 to the holders of record at the close of business on May 16. That's the same amount it's paid each month this year, having increased it from the $0.045 rate last paid in December.
Goldcorp is a low-cost gold producer whose production remains 100% unhedged.
The dividend payment equates to a $0.60-per-share annual dividend yielding 2.1% based on the closing price of Goldcorp's stock on May 6.