Gold miner AuRico Gold (NYSE: AUQ ) announced today its second-quarter dividend of $0.04 per share, the second dividend payment it's made since initiating the program earlier this year. The board of directors said the quarterly dividend is payable on July 29 to the holders of record at the close of business on July 15.
As the gold miner previously announced, the payout for 2013 is expected to annualize at $0.16 per share, but beginning next year the quarterly dividend will be linked to AuRico's operating cash flow, whereby it intends to pay out 20% of the OCF generated in the preceding quarter divided by the number of outstanding shares at the time the dividend is approved. Dividend payments are expected to be paid within three to four weeks following the release of AuRico's financial statements.
Also, beginning with the current dividend payment, investors can participate in a dividend reinvestment plan.
As noted, the regular dividend payment equates to a $0.16-per-share annual dividend, yielding 3.7% based on the closing price of AuRico Gold's stock on July 2.