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