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

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) declared a quarterly dividend on Monday, March 24th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.14 per share on Friday, April 18th. This represents a $0.56 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, April 4th.

Caledonia Mining has raised its dividend payment by an average of 1.9% annually 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 Stock Down 0.7 %

Shares of NYSEAMERICAN:CMCL opened at $11.25 on Wednesday. The firm has a market capitalization of $216.23 million, a price-to-earnings ratio of 23.44 and a beta of 0.68. Caledonia Mining has a 12 month low of $8.81 and a 12 month high of $16.95. The stock’s fifty day moving average is $10.15. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

Separately, Maxim Group upgraded 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.