JOHANNESBURG – Victoria Falls Stock Exchange-listed Caledonia Mining Corporation has declared a quarterly dividend of $0.14 apiece, which is a notable 104 PERCENT increase on the US$0.068 dividend level since October 2019.
Caledonia chief executive officer Steve Curtis said the company has built a strong reputation for rewarding shareholders through growth and dividends over the last 10 years, particularly as the dividend has more than doubled over the last two years.
He added that, with the Central Shaft at the Blanket mine, in Matabeleland South, now complete, the company can now focus on other areas of its growth strategy – predominately de-risking the business from being a single-asset producer.
Meanwhile, Caledonia sees geological potential in Zimbabwe and it continues to evaluate investment opportunities in the country.
The company last year announced the acquisition of Maligreen in the Midlands, one of the more significant exploration opportunities in Zimbabwe.
“I am very excited with the opportunity that we have to evolve our business, with Blanket mine as the foundation for our growth.
“This marks a strategic pivot in the future direction of Caledonia as it pursues its strategy to become a multi-asset gold producer,” Curtis said.
Caledonia is targeting production of between 73 000 oz and 80 000 oz this year.-MINING WEEKLY