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Caledonia Mining declares quarterly dividend, remains on track for full year payout of US$0.275

Caledonia remains on track to produce between 55,000 and 59,000 ounces of gold this year
Caledonia Mining declares quarterly dividend, remains on track for full year payout of US$0.275
Gold production is set to rise at Blanket in the coming years

Caledonia Mining Corporation PLC (LON:CMCL) has declared a quarterly dividend of US$0.06875 per share.

The shares will go ex-dividend on 11 October, and the record date is 12 October.

WATCH: Caledonia Mining to increase stake in Blanket mine to 64%

Caledonia adopted a quarterly dividend policy in 2014. It’s expected that the current dividend of US$0.275 per year, paid in equal quarterly instalments, will be maintained. 

Caledonia's primary asset is a 49% interest in the Blanket gold mine in Zimbabwe, although this stake is likely to rise to 64% following a memorandum of understanding signed in August.

On current plans, production from Blanket will increase to 80,000 ounces per year by 2021. Forecast production for 2018 is between 55,000 and 59,000 ounces of gold.

As at 30 June 2018, Caledonia had cash of approximately US$5.3mln. 

 

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Caledonia Mining Corporation Timeline

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