Elemental Royalty (TSX-V: ELE, NASDAQ: ELE) is now offering its investors the option to receive dividends settled in Tether Gold (XAU₮).
The company expects to declare an annual cash dividend to its shareholders of US $0.12 per common share, to be paid in quarterly instalments of US $0.03 per share. The company has a market cap of around $1.224 billion.
According to a release, this is the first publicly listed gold company to offer shareholders the option to receive dividends in tokenized gold.
Paolo Ardoino, CEO of Tether, said that using XAU₮ for shareholder dividends is a major step forward for the gold industry and “shows how tokenized assets can unlock new financial models that were previously out of reach.”
XAU₮ is available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain.
XAU₮ represents ownership of one fine troy ounce of physical gold stored in secure vaults in Switzerland. The official Tether Gold website states that holders can redeem their XAU₮ tokens for actual physical gold bars. Redemption is only possible in increments of one full gold bar
