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Caledonia Mining dividend a reminder it is one of the few income stocks in the sector

There are few stocks on the junior bourse that yield more than 8% - let alone among the gold miners.
Caledonia Mining dividend a reminder it is one of the few income stocks in the sector
Caledonia is one of the few mining juniors to pay a divi.

There are few stocks on the junior bourse that yield more than 8% - let alone one in the gold mining sector.

Today’s dividend declaration from Caledonia Mining (LON:CMCL, CVE:CAL, OTCQX:CALVF) is a reminder there are still a few diggers out there willing and able to reward investors.

The company, which owns the Blanket Mine in Zimbabwe, is paying 1.125 US cents a share for the quarter just gone – or the equivalent of 4.5 cents on an annualised basis.

The firm is sitting on around US$16.1mln generated from an operation that has an-all-in cost of US$696 per ounce.

In the dividend release, Caledonia also updated on its plans to shift its domicile to Jersey from Canada. This ought to provide a boon for investors who won’t then have to pay Canadian withholding tax on their dividends.

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The money is now being provided by Coris Bank, one of the largest and fastest growing lenders in West Africa.
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