Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) Announces $0.14 Quarterly Dividend

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) declared a quarterly dividend on Tuesday, March 25th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.14 per share on Friday, April 18th. This represents a $0.56 annualized dividend and a yield of 4.98%. The ex-dividend date is Friday, April 4th.

Caledonia Mining has increased its dividend by an average of 1.9% per year over the last three years. Caledonia Mining has a dividend payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings.

Caledonia Mining Price Performance

Shares of CMCL traded down $0.08 during midday trading on Tuesday, reaching $11.25. The stock had a trading volume of 58,900 shares, compared to its average volume of 70,531. The firm has a market capitalization of $216.23 million, a P/E ratio of 23.44 and a beta of 0.68. The business has a fifty day moving average price of $10.11. Caledonia Mining has a 1-year low of $8.81 and a 1-year high of $16.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.44.

Wall Street Analysts Forecast Growth

Separately, Maxim Group raised Caledonia Mining to a “strong-buy” rating in a report on Friday, January 3rd.

About Caledonia Mining

Caledonia Mining Corporation Plc primarily operates a gold mine. It also engages in the exploration and development of mineral properties for precious metals. The company holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe. It also owns 100% interests in the Maligreen project, a brownfield gold exploration project located in the Gweru mining district in the Zimbabwe Midlands; the Bilboes, a gold deposit located to the north of Bulawayo, Zimbabwe; and the Motapa, a gold exploration property located in Southern Zimbabwe.