January 31, 2011 / 1:18 PM / in 7 years

UPDATE 1-Eldorado to pay dividend on high gold prices

* To pay C$0.05 per share dividend

* Dividend represents $100/ounce of gold sold in H2 2010

TORONTO, Jan 31 (Reuters) - Eldorado Gold Corp (ELD.TO) said on Monday that it would pay a dividend on Feb. 25 after the company’s second half of 2010 was boosted by high gold prices and low margins.

The Vancouver-based company will pay 5 Canadian cents per outstanding common share on Feb. 25 to holders of record as of Feb. 11, 2011.

The total dividend represents approximately $100 per ounce of gold sold by the company in the second half of 2010.

Shares of Eldorado closed at C$16.46 on Friday on the Toronto Stock Exchange. (Reporting by Julie Gordon, editing by Gerald E. McCormick)

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