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.
Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Why Goldcorp, Blackhawk Network Holdings, and Smart & Final Stores Jumped Today
Find out which of these companies is going private.
Is Goldcorp Inc. a Buy in 2018?
The company is kicking off an ambitious five-year plan that could be great for investors -- if it works.
Why MercadoLibre, CenturyLink, and Goldcorp Jumped Today
Find out which stocks benefited from the Fed's interest rate decision.