New York Stock Exchange-listed company Caledonia Mining Corporation Plc has declared a quarterly dividend of US$0.14 per share.
This comes on the backdrop of last year’s successful commissioning of the Central Shaft which boosted production at the Canadian firm’s Gwanda subsidiary, Blanket Mine.
In a statement, Caledonia Chief Executive Officer, Steve Curtis said in 2022 the company will mainly focus on “de-risking the business from being a single asset producer.”
“In January 2020, we announced our first dividend increase and over the last two years, we have more than doubled the dividend while always balancing the importance of returning money to shareholders and investing in the Company’s growth.
“Now that the Central Shaft is complete the Company can focus on other areas of its growth strategy, predominately de-risking the business from being a single asset producer,” Curtis said.
The company has already acquired the Gweru-based Maligreen project, which according to Curtis, is “one of the more significant exploration opportunities in Zimbabwe.”
Gold production for 2022 has been set between 73,000 and 80,000 ounces from 61 000 and 67 000 ounces last year.