Caledonia Mining has declared a quarterly dividend of US6.875c per share, a fivefold increase from the US1.375c per share declared in previous quarters. The increase reflects the recent 5-for-1 share consolidation, meaning that the overall aggregate dividend amount is maintained.
The company expects to maintain the dividend at this quarterly rate, which represents an indicative dividend yield of 4.1% based on an annual dividend totalling US27.5c per share and the current share price of 515.00p.
Caledonia expects its new listing on the NYSE MKT to be completed by about the middle of July.
As at 31 March 31, the company had cash of approximately US$11.7m.
Caledonia increases quarterly dividend: CMCL