Wednesday, April 20, 2011

Goldcorp's (GG) Success Drives Dividend Strategy

The success of miner Goldcrop (NYSE:GG) has helped the company provide some hefty boosts to its dividends, as the price of gold and other metals brings the company extraordinary success.

Recently Goldcorp announced it had increased its annual dividend by 11 percent to 40.8 cents a share. That was after the giant gold miner raised the dividend by double in October 2010.

Goldcorp, the only gold producer to pay a monthly dividend, pays out 3.4 cents a share at this time.

Gold isn't close to topping out yet, so Goldcorp over time should provide an excellent investment opportunity, not only in share price growth, but in dividends as well.

Goldcorp was trading at $54.70, up $0.03, or 0.05 percent, as of 1:05 PM EDT.

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