Caledonia Mining Corporation PLC COM SHS NPV (DI) (LON:CMCL) today announced that its board of directors has declared a dividend of six and seven eighths United States cents (US$0.06875) on each of the Company‘s common shares.
The relevant dates relating to the dividend are as follows:
· Ex-dividend date for shares held on the share register: January 10, 2018
· Ex-dividend date for shares held through depositary interests in CREST in the UK: January 11, 2018
· Record date: January 12, 2018
· Dividend cheque mailing date: January 26, 2018
Shareholders and depositary interest holders in Canada and the UK will be paid in Canadian Dollars and Sterling respectively. The Canadian Dollar and Sterling dividend payments will be calculated using the relevant Bank of Canada exchange rates on the record date.
Chief Executive Officer, Steve Curtis, said:
“Caledonia maintains its quarterly dividend at 6.875 cents per share, reflecting a continuing strong balance sheet and cash position despite the ongoing investment in the Central Shaft project at the Blanket Mine (the Investment Plan).
“2017 has been another significant year for Caledonia having announced at the start of November a significant and continued increase in Blanket Mine’s resource base and, shortly thereafter, an extension to the Central Shaft project to deepen the shaft by two extra production levels in order to access the increased resource base at those depths.
“Production guidance for 2017 is between 54,000 to 56,000 ounces of gold and we expect to announce Blanket Mine’s gold production for 2017 later this month. Blanket Mine continues to make progress towards its goal of 80,000 ounces per year by 2021 as a result of the implementation of the Investment Plan.
“Caledonia intends to continue to distribute cash to shareholders whilst simultaneously retaining a robust balance sheet and we look forward to updating the market on our recent performance with our fourth quarter and annual results for 2017, which are expected to be released on or about March 20, 2018.”
