Caledonia Mining Corporation PLC (LON:CMCL) CFO Mark Learmonth tells Proactive Investors that the company has increased the quarterly dividend by 22% while it delivers on its growth strategy. "That higher dividend will be paid at the end of July and we expect that to be he new base for the dividend going forward,... still keeping quite a lot of gas in the tank to allow us flexibility to do other things" he says.
Learmonth said the company is in a position where their cash generation has improved substantially but notes the dividend increase is not a result of higher gold prices or windfall gains. "That is helpful, but even if the gold price had stayed at 1050-1100, our cash generation would be improving significantly. This dividend is underpinned by consistent, solid delivery against the plan that we have outlined nearly two years ago" he says.