BY MTHANDAZO NYONI RESOURCES firm, Caledonia Mining Corporation (Caledonia) has declared an increased quarterly dividend of US$0,14 per share despite the depressed economic environment.
Caledonia chief executive officer Steve Curtis said on Monday the dividend represented an 8% increase from the previous quarterly dividend of US$0,13 cents that was paid in July 2021.
“We are pleased to announce an additional 8% increase in our quarterly dividend, the seventh increase in the past two years, which reflects our continued confidence in the outlook for our business. This dividend represents a 104% rise since October 2019,” he said.
“The anticipated increase in production following the successful commissioning of the Central Shaft earlier in 2021 gives us confidence to further increase the dividend payment in addition to providing funding for investment in new projects, including the exploration prospects at Maligreen and Connemara North, as announced last month and at the end of 2020 respectively.
“The board will continue to review the company’s future dividend distributions as appropriate, while balancing the importance of returning money to shareholders and investing in the company’s growth,” Curtis said.