Gold Resource (NYSEMKT:GORO) is continuing to turn its pretty yellow metal into shareholder cash. The company has declared its next monthly dividend, which is to be $0.03 per share for September. This will be paid on October 23 to shareholders of record as of October 11. That amount matches each of the firm's previous five monthly distributions. Prior to that, Gold Resources was twice as generous, handing out $0.06 per share.

The company is unusual in that it allows shareholders to convert their cash dividends into gold or silver.

The just-declared dividend annualizes to $0.36 per share. That yields 5.3% at Gold Resource's most recent closing stock price of $6.77.

Fool contributor Eric Volkman has no position in Gold Resource. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.