Caledonia Mining declares quarterly dividend

Caledonia Mining

Caledonia Mining Corporation Plc (LON:CMCL) has announced that the Board of Directors has declared a quarterly dividend of 14 United States cents (US$0.14) on each of the Company’s shares.

Highlights

·   Company on track to hit target production of 73,000 to 80,000 ounces of gold in 2022[1]  

·   The Company’s strategy is focused on becoming a multi-asset gold producer

·   Caledonia continues to evaluate investment opportunities in Zimbabwe and elsewhere

Commenting on the announcement, Mark Learmonth, Chief Executive Officer, said:

“Gold production so far this year has been strong, and we are on track to hit the top end of our guidance range of 73,000 to 80,000 ounces.

“Although the dividend continues to be a central part of our strategy, I am very excited with the opportunity that we have to evolve our business in Zimbabwe and de-risk it from being a single asset producer.

“I look forward to updating the market of our progress in due course.”

The relevant dates relating to the dividend are as follows:

• Ex-dividend date VFEX: July 13, 2022

• Ex-dividend date AIM and NYSE: July 14, 2022

• Record date: July 15, 2022

• Payment date: July 29, 2022

Shareholders with a registered address in the UK will be paid in Sterling.

Caledonia’s Dividend Policy

Caledonia Mining’s strategy to maximise shareholder value includes a quarterly dividend policy which the Board adopted in 2014. The Board will consider future increases in the dividend as appropriate in line with its prudent approach to risk management.

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