Caledonia Mining Corporation (LON:CMCL) Maurice Mason the VP Corporate Development & Investor Relations discusses its 7.5 cent dividend while many other companies are deferring. Maurice also sheds more light on its contributions in the fight on COVID-19, the impact on the company and what else investors should be looking out for over the coming months.
Caledonia Mining Corporation’s primary asset is a 64 per cent interest in an operating gold mine in Zimbabwe. Company shares are listed on the NYSE American and on the Toronto Stock Exchange and depositary interests representing the shares are traded on London’s AIM Market.
Caledonia’s consolidated cash position on April 24, 2020 was $14.1 million. At the current quarterly dividend of 7.5 cents per share, the dividend payment in May amounts to approximately $860,000, approximately six per cent of Caledonia’s available cash at the above date. Caledonia expects to publish its results for the quarter to March 31, 2020 on or around May 14, 2020.