Caledonia Mining (Zimbabwe) declares a quarterly dividend of 14 United States cents per share

By Published On: December 30th, 2022Categories: Corporate announcement, Dividends

St Helier, December 30, 2022 – Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) is pleased to announce 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.

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

In January 2022, the Company announced that it was looking to evolve the business with a strategic pivot in the future direction of Caledonia as it pursues its strategy to become a multi-asset gold producer. At that time, we had recently announced the purchase of the Maligreen claims and during the course of the year we made significant advances in this area, culminating in the publication of an updated technical report on Maligreen last month. In July, we announced that the Company had signed an agreement to purchase Bilboes Gold Limited; and a few months later the Company acquired Motapa Mining Company UK Limited, the ultimate holding company of an exploration project adjacent to Bilboes.

This was achieved alongside three record quarters of production and we are on track to achieve the top end of our 2022 production guidance of between 73,000 and 80,000 ounces of gold. The Company has come a long way in the last 12 months as we continue to pursue our strategy of becoming a multi asset gold producer.

The relevant dates relating to the dividend are as follows:

  • Ex-dividend date VFEX: January 11, 2023
  • Ex-dividend date AIM and NYSE: January 12, 2023
  • Record date: January 13, 2023
  • Payment date: January 27, 2023

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

Caledonia’s Dividend Policy

Caledonia’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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