Caledonia Mining maintains quarterly dividend policy consistency

CALEDONIA Mining Corporation has declared a US$0,14 quarterly dividend to its shareholders for the quarter ended December 31, 2023 as the group remains consistent with its quarterly dividend policy adopted in 2014.

Locally, the mining group is listed on the Victoria Falls Stock Exchange and owns Blanket Mine, a gold asset in Gwanda, Matabeleland South Province.

“The board of directors of the company has declared a quarterly dividend of US$0,14 on each of the company’s shares.

“Caledonia’s strategy to maximise shareholder value includes a quarterly dividend policy which the Board adopted in 2014.

“The board will consider future dividends as appropriate and in line with its prudent approach to risk management,” said the mining group in a statement.

Locally, the mining group also holds title to the Bilboes Gold Limited project in Bubi District, Matabeleland North Province which it acquired in 2022 under a US$53,5 million deal and the Motapa gold exploration project, which is adjacent to the Bilboes operation.

In 2021, Caledonia acquired the Maligreen Goldfields in Gweru, Midlands Province for about US$4 million.

Meanwhile, the mining group is yet to release its production figures for Blanket for the quarter to December 31, 2023 and the full-year.

In the nine months to September 30, 2023, Blanket produced 55 244 ounces of gold and Caledonia reiterated its gold production for the year of between 75 000oz and 80 000oz.

In the quarter to September 30, 2023, Blanket Mine’s output reached a record high of 21 772oz reflecting a three percent increase than the 21 120oz produced during the corresponding period in 2022.-ebusinessweekly