JOHANNESBURG (miningweekly.com) – Gold miner Resolute Mining on Tuesday declared a dividend of 1.7c a share, following the adoption of an innovative gold sales-linked dividend policy.

Resolute partnered with the Perth Mint to provide shareholders with the opportunity to receive dividend payments in gold. Shareholders who hold 5 000 or more Resolute shares will be able to elect to be paid their dividend payment in gold through a personal account held with the Perth Mint.

This account will allow shareholders to store and accumulate Resolute gold dividends, buy and sell gold and other precious metals, and convert gold balances into a range of bars and coins subject to the terms and conditions of The Perth Mint Depository Online programme.

Resolute MD and CEO John Welborn commented that the company’s recent strong performance had allowed the adoption of a unique new dividend policy.

“The 2016 financial year has been transformational for Resolute with the generation of a record profit of A$213-million, a stunning turnaround in the strength of the company’s balance sheet, and the completion of a number of key studies designed to ensure long term profitable gold production.

“Resolute’s new gold sales-linked dividend policy rewards our shareholders by providing a sustainable income stream that allows direct participation in our ongoing production success. Having generated sales of more than 7-million ounces of gold from over 25 years of continuous production, and with over 14-million ounces of gold in reserves and resources at our existing projects, Resolute shareholders will now be rewarded with a dividend based on a fixed proportion of future revenue from our gold production,” he added.

The Perth Mint operates the only government guaranteed investment and storage programme in the world and has been offering private precious metal storage options for investors since 1999. This service now includes a platform, which allows investors to hold and trade precious metals online.

Perth Mint CEO Richard Hayes commented that the Mint supported Resolute’s “bold and unique initiative” to be the first gold miner it worked with to pay its shareholders their dividends in gold. “Innovation is a key driver in our business and we are delighted to partner with one of our most successful long-term clients to provide them with these facilities.”