Caledonia declares $0.14 quarterly dividend
Aim-listed Caledonia Mining Corporation has declared a quarterly dividend of $0.14 apiece, which is a notable 104% increase on the $0.068 dividend level since October 2019.
CEO Steve Curtis says the company has built a strong reputation for rewarding shareholders through growth and dividends over the last ten years, particularly as the dividend has more than doubled over the last two years.
He adds that, with the Central Shaft at the Blanket mine, in Zimbabwe, now complete, the company can now focus on other areas of its growth strategy – predominately de-risking the business from being a single-asset producer.
Meanwhile, Caledonia sees geological potential in Zimbabwe and it continues to evaluate investment opportunities in the country. The company last year announced the acquisition of Maligreen, one of the more significant exploration opportunities in Zimbabwe.
“I am very excited with the opportunity that we have to evolve our business, with Blanket mine as the foundation for our growth. This marks a strategic pivot in the future direction of Caledonia as it pursues its strategy to become a multi-asset gold producer,” Curtis says.
Caledonia is targeting production of between 73 000 oz and 80 000 oz this year.
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