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The Markets
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Gold & silver

UPDATE - Caledonia Mining declares ninth quarterly dividend

Gold miner Caledonia Mining has declared a dividend of one and a half Canadian cents (C$0.015) - its ninth quarterly payment. .

In 2014, the Company paid an annual aggregate dividend of six Canadian cents ($0.060) per share and it said it currently envisaged that the existing dividend policy of 6 cents per annum, paid in equal quarterly instalments will be maintained.

The group’s core asset is the 49% owned Blanket gold mine in Zimbabwe.

Yesterday, the group said it expects progressive increases in gold production from 2016 onwards as its investment at the mine kicks in.

Following the announcement, broker Shore Capital noted: "Caledonia reiterated today simply that it expects its dividend policy “to be maintained”.

"The company had previously stated that this would be the case throughout 2015, and that guidance for 2016 dividends would be provided around the time of the Q2 2015 results."

Caledonia shares were unchanged at 53p each.

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