- Caledonia Mining Corporation has maintained a quarterly dividend of US$0.14 per share for the first quarter of 2025
- The quarterly dividend policy was adopted by the Board in 2014, with its roots tracing back to January 2013 when Caledonia initiated an annual dividend of $0.05 per share, paid quarterly
- Caledonia is the third-largest gold producer in Zimbabwe, with the Blanket Mine as its flagship
Harare-Caledonia Mining Corporation has maintained its 14 United States cents (US$0.14) dividend on each of the company’s shares for the first quarter (Q1) of 2025.
This follows the company’s commitment to maximise shareholders value through declaring quarterly dividends.
“Caledonia’s strategy to maximize shareholder value includes a quarterly dividend policy which the Board adopted in 2014,” the company said.
The policy traces its roots back to January 2013, when Caledonia initiated an annual dividend of $0.05 per share, paid quarterly, over the years, this amount grew incrementally reaching $0.075 in 2019 and then a significant hike to $0.14 in April 2020 driven by improved cash flows from its flagship Blanket Mine.
This $0.14 quarterly pay-out, amounting to $0.56 annually per share, has since become a hallmark of stability, reflecting the company’s confidence in its operational resilience and long-term prospects.
The company is listed on the USA’s New York Stock Exchange (NYSE), Zimbabwe’s Victoria Falls Stock Exchange (VFEX) and London’s Alternative Investment Market (AIM).
These listings enhance its visibility and liquidity, making the consistent dividend an even more attractive proposition for a diverse shareholder base.
The relevant dates for the Q1 2025 dividend are April 2 for VFEX ex-dividend, April 3 for AIM ex-dividend, and April 4 for NYSE American ex-dividend, with payment set for April 18, 2025.
Caledonia stands as the third largest gold producers in Zimbabwe with Blanket Mine as the flagship mine. The company also owns Bilboes Mine acquired in January 2023 which is being recapitalised with US$309 million.
With Bilboes online, it will position the company as the largest gold asset in Zimbabwe.
The mining company plans to establish itself as a multi-asset gold producer, with an ambitious goal to produce more than 250,000 ounces of gold per year.
This target hinges on scaling Blanket Mine’s output currently around 74000 to circa 78 000 ounces annually and bringing Bilboes online, alongside exploring its Motapa and Maligreen claims.
In 2024, Blanket produced 76,656 ounces, meeting its guidance of between 74,000–78,000 ounces, a testament to operational efficiency despite power and currency challenges.
For 2025, Blanket’s guidance is slightly lower at 73,500–77,500 ounces, reflecting mine scheduling, while Bilboes’ development could catapult total production toward the 250,000-ounce mark by the end of the decade.
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