Caledonia Mining Corporation (CMCL)

[NYBob]

Caledonia Mining declares quarterly dividend as Blanket mine operations continue
The company said Blanket’s supply chain was now “close to normal” and the mine was re-establishing full production after having operated at 93% of capacity during lockdown in Zimbabwe



Caledonia Mining Corporation PLC - Caledonia Mining declares quarterly
dividend as Blanket mine operations continue

Caledonia Mining Corporation PLC (LON:CMCL) (TSE:CAL) has declared a
quarterly dividend of US$0.07 per share after having deferred the
payment at the start of April.

However, since then, the AIM-listed firm said, it has been “encouraged”
by continued operations at its Blanket mine and the re-opening of
important supply lines.

READ: Caledonia Mining sees sharp increase in first-quarter production
The company said Blanket’s supply chain of consumables and spares parts
was now “close to normal” and the mine was re-establishing full
production after having operated at 93% of capacity during lockdown in
Zimbabwe.

Caledonia also said it has committed to making weekly donations to
coronavirus-related projects in Zimbabwe to combat the spread of
the disease.

"Blanket Mine has continued to operate during the recent regional shut
down: it has paid its workers, suppliers and the Zimbabwe tax
authorities as usual; and it has continued to generate substantial
foreign exchange for Zimbabwe”, Caledonia chairman Leigh Wilson
said in a statement.

"Our ability to make this dividend payment whilst at the same time
making larger contributions to the fight against [coronavirus] is
testament to the resilience of our business…Our balance sheet remains
in an enviable position and the dividend remains comfortably
affordable.
Today's announcement is a continuation of the prudent approach to
capital allocation that we have followed for several years - a path
that we expect to continue", he added.

https://www.proactiveinvestors.co.uk/companies/news/918379/caledonia-mining-declares-quarterly-dividend-as-blanket-mine-operations-continue-918379.html

Quick facts: Caledonia Mining Corporation PLC
Price: 996 GBX

AIM:CMCL
Market: AIM
Market Cap: £109.52 m
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2019-10-28
2020-04-28