Business / Local
Caledonia Mining Corporation declares 14 cents dividend
03 Oct 2023 at 04:17hrs | Views
Zimbabwe, October 2, 2023 - Caledonia Mining Corporation, a prominent global mining firm with operations in Zimbabwe, has declared a dividend of US$0.14 per share for the third quarter of its 2023 trading year.
This dividend announcement, scheduled for payment on October 23rd, is a testament to the company's commitment to retaining investor value, in line with a board resolution made in 2004 to distribute dividends on a quarterly basis.
In a stark contrast to recent events, including Tongaat Hullet sugar refineries' decision to delist from the Joburg Stock Exchange without issuing dividends for the year, Caledonia Mining Corporation's dividend declaration reflects positively on the company's dedication to its investors.
Caledonia Mining Corporation continues to hold a significant position within Zimbabwe's mining industry, even as the sector has witnessed increased participation from Chinese firms. This is in line with Zimbabwe's ambitious goal to develop a US$12 billion mining industry by 2025, attracting international players.
This announcement comes at a challenging time for the mining industry, which has been grappling with operational safety concerns. Recently, the industry suffered a major setback with the tragic loss of RioZim owners in a plane crash in Zvishavane and a mine collapse in Chegutu. These unfortunate incidents have heightened the focus on safety within the sector and underscore the importance of robust safety measures.
Caledonia Mining Corporation's dividend declaration serves as a beacon of stability and profitability amidst these challenges. It not only reinforces the company's dedication to its investors but also highlights its continued commitment to the economic development of Zimbabwe's mining industry.
Investors and stakeholders in the mining sector will be closely watching Caledonia Mining Corporation as it navigates the evolving landscape of Zimbabwe's mining industry, mindful of the recent developments and the company's dedication to sustaining shareholder value.
This dividend announcement, scheduled for payment on October 23rd, is a testament to the company's commitment to retaining investor value, in line with a board resolution made in 2004 to distribute dividends on a quarterly basis.
In a stark contrast to recent events, including Tongaat Hullet sugar refineries' decision to delist from the Joburg Stock Exchange without issuing dividends for the year, Caledonia Mining Corporation's dividend declaration reflects positively on the company's dedication to its investors.
This announcement comes at a challenging time for the mining industry, which has been grappling with operational safety concerns. Recently, the industry suffered a major setback with the tragic loss of RioZim owners in a plane crash in Zvishavane and a mine collapse in Chegutu. These unfortunate incidents have heightened the focus on safety within the sector and underscore the importance of robust safety measures.
Caledonia Mining Corporation's dividend declaration serves as a beacon of stability and profitability amidst these challenges. It not only reinforces the company's dedication to its investors but also highlights its continued commitment to the economic development of Zimbabwe's mining industry.
Investors and stakeholders in the mining sector will be closely watching Caledonia Mining Corporation as it navigates the evolving landscape of Zimbabwe's mining industry, mindful of the recent developments and the company's dedication to sustaining shareholder value.
Source - Byo24News
