Caledonia Mining (LON:CMCL, TSE:CAL) continues to put many AIM companies in the shade by paying a dividend.
The dividend for the latest quarter is 1.5 Canadian cents, which implies a total dividend for the year of six cents, unchanged from the previous fiscal year. Caledonia, which is free of debt, said its current intention is to maintain its annual dividend at six cents, paid in quarterly instalments.
Caledonia will continue to maintain its strong financial position so that it can implement its stated growth strategy without the need to raise third party finance, the company told investors.
The US dollar and sterling dividend payments will be calculated using the relevant Bank of Canada exchange rates at noon on the record date, which is 16 October, and will be after deduction of Canadian withholding tax and any other taxes that may apply.
Shares in London were up 1.3% at 40p in mid-morning trading.