Caledonia declares US$0.14 quarterly dividend per ...

Caledonia declares US$0.14 quarterly dividend per share

Zim Now Writer

Caledonia Mining Corporation has declared a quarterly dividend of US$0.14 on each of the company’s shares although the company promised to review the dividends depending on the company’s performance.

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

Caledonia paid its initial dividend in February 2012 of 6 Canadian cents.

On April 4, 2013, Caledonia announced an annual dividend in respect of the year to December 31, 2012, also of 6 Canadian cents.

On November 25, 2013, Caledonia announced that in 2014 it intended to pay an annual aggregate dividend of Canadian cents per common share payable every quarter.

The first quarterly dividend of 1.5 Canadian cents per common share was paid at the end of January 2014 and further quarterly dividends were subsequently paid at the end of April, July and October in each year.

In December 2015, Caledonia announced that with effect from the results of the year to December 31, 2015 (which were released at the end of March 2016), it would report its financial results in United States Dollars, instead of Canadian Dollars.

Accordingly, all dividends would also be declared in United States Dollars.

In January 2016, Caledonia announced that the dividend payable at the end of January 2016 would be 1.125 US cents and the quarterly dividend policy was subsequently increased in Q3 of 2016 from US$1.125 cents per share to US$1.375 cents per share, an increase of 22% In conjunction with the overall 1 for 5 share consolidation which became effective on June 26, 2017, Caledonia announced on July 4, 2017, that it had made a commensurate adjustment to the dividend by increasing it fivefold.

On January 3, 2020, it was announced that Caledonia would be increasing the quarterly dividend by approximately 9% to 7.5 US cents per share, commencing with the dividend to be paid at the end of January 2020.

On June 29, 2020, it was announced that Caledonia increased the quarterly dividend by approximately 13% to 8.5 US cents per share, commencing with the dividend to be paid at the end of July 202, and on October 1, 2020, a further increase was announced to 10 US cents per share.

In 2021, increased dividends were announced in every quarter that is January, April, July and October. The October dividend was increased by 8% to US$0.14 a share, where it has remained, a 104% increase to the dividend announced in October 2019.

Last year, Caledonia also announced a US0.14 dividend a share.