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Gold can be an excellent hedge against inflation. Typically, gold is inversely valued against the U.S. dollar. When inflation runs high, investors might consider purchasing precious metals, such as gold. In fact, gold prices recently hit a record price above $5,000 per ounce. Gold spot prices are currently at just over $5,080 per ounce, up 85% in the past 12 months.

For investors looking for more from their gold positions, such as dividend income, owning gold stocks can be a way to generate income while countering inflation. This article will examine three of our top gold dividend stocks right now.

Franco-Nevada Corp. (FNV)

Franco-Nevada Corporation is a royalty and stream company focused on gold and other precious metals, and oil and gas. The company’s cash-flow producing portfolio is actively managed and aims to maintain over 80% of revenue from precious metals.

The business model is to grow and build the portfolio of royalties and streams, thus it does not operate mines or conduct exploration. This lean business model allows for the $39 billion market cap company to employ only 38 full-time employees. The corporation is still exposed to commodity price fluctuations in the short-term but utilizes the commodity down cycles to opportunistically make investments.

The corporation is headquartered in Toronto and trades on both the Toronto and New York Stock Exchanges under the ticker symbol FNV. FNV has raised its dividend for 18 consecutive years.

On November 3rd, 2025, Franco-Nevada reported third quarter 2025 results. Gold Equivalent Ounces (GEOs) sold increased 26% compared to third quarter 2024. Revenue soared 77% year-over-year to $488 million, which was a new record. Adjusted net income jumped 79% to $275 million, resulting in adjusted net income per share of $1.43.

The company has a long runway of growth still ahead of it. Its new metals stream and natural gas royalties have immediately added cash flow. Further portfolio additions would likely do the same, though it is not baked into its immediate growth outlook. GEOs sold are expected to increase over the next five years.

Fortitude Gold Corp. (FTCO)

Fortitude Gold Corporation was spun-off from Gold Resource Corporation into a separate public company in December 2021. Fortitude Gold is a junior gold producer with operations in Nevada, U.S.A, one of the world’s premier mining friendly jurisdictions. 

The company targets high-grade gold open pit heap leach operations averaging one gram per tonne of gold or greater. Its property portfolio currently consists of 100% ownership in six high-grade gold properties. All six properties are within an approximate 30-mile radius of one another within the prolific Walker Lane Mineral Belt. 

The company generated $37.3 million in revenues last year, the majority of which were from gold, and is based in Colorado Springs, Colorado. It pays dividends on a monthly basis.

On November 4th, 2025, Fortitude Gold released its Q3 results. For the quarter, revenues came in at $4.7 million, marking a 54% decline compared to Q3 2024.

The decrease in revenue was primarily driven by a 67% drop in gold sales volume and a 30% decrease in silver sales volume. These declines were partially offset by a 41% increase in realized gold prices and a 38% increase in silver prices.

Moving to the bottom line, Fortitude reported a mine gross profit of $2.5 million compared to $4.8 million the previous year, reflecting the lower net sales. The company recorded a net income of $0.2 million versus $0.9 million in Q3 2024.

On a per-share basis, the company posted a net income of $0.01. We have set the company’s EPS power at $0.25, although EPS this year is likely to land close to $0.12. The company maintained its monthly dividend of $0.01 per share, paying $0.7 million in dividends during the quarter.

Royal Gold (RGLD)

Royal Gold was initially an oil and gas exploration and production company. However, the company switched gears and focused on acquiring and managing precious metal royalties and streams, with a special emphasis on gold by the late 1980s. 

The company’s royalty and streaming business truly sets it apart from many of the names in the precious metal space. Royal Gold’s streaming contracts stipulate that it has the right to purchase all or a portion of metals produced from a mine at a price already determined for the life of the contract. This allows Royal Gold to benefit from high demand, and thus higher production, of gold while limiting downturns in the market when investors have soured on the precious metal. 

RGLD has raised the dividend consecutively in the last 24 years.

On October 20th, 2025, Royal closed on its acquisition of Sandstorm Gold Ltd. and Horizon Copper Corp. To fund the acquisitions, Royal issued roughly 18.6 million common shares, raising its share count to 84.4 million, and drew $450 million on its revolving credit facility.

On November 5th, 2025, Royal Gold reported results for the third quarter of 2025. RGLD reported adjusted net income of $2.06 per diluted share compared to $1.47 in Q3 2024. The company ended the period with a net debt / (cash) to trailing twelve months adjusted EBITDA ratio of 0.85X, with $173 million of cash and equivalents and total available liquidity of roughly $813 million. During the quarter, Royal Gold acquired a gold stream on the Kansanshi Mine in Zambia.

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