As far as I'm aware, dividends are paid out of profits. If there are no profits, then they can elect to do a return of capital, which is what I think WAA did recently.
AN1 CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch
Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks