Loading ...TORONTO, ONTARIO–(Marketwired – April 7, 2015) – Caledonia Mining Corporation (“Caledonia”) (TSX:CAL) (OTCQX:CALVF) (AIM:CMCL) today announces that the Board of Directors has declared Dividend Number 8, this being a dividend of one and one half Canadian cents ($0.015) on each of the Company’s common shares issued and outstanding as of 5:00 p.m. Toronto local time on the Record Date, being April 17, 2015. The ex-dividend date will be April 16, 2015. Dividend cheques will be mailed on April 30, 2015.
Shareholders who are registered in the United States of America and the United Kingdom will be paid in US Dollar and Sterling, respectively. The US Dollar and Sterling dividend payments will be calculated using the relevant Bank of Canada exchange rates at noon on the Record Date and will be after deduction of Canadian withholding tax and any other taxes that may apply.
This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).
Caledonia’s Dividend Policy
Caledonia’s long term strategy to maximize shareholder value includes a quarterly dividend policy. In 2014, the Company paid an annual aggregate dividend of six Canadian cents ($0.060) per common share. The first quarterly dividend was paid on January 31, 2014 and subsequent quarterly dividends were paid at the end of April, July and October 2014 and at the end of January 2015.
It is currently envisaged that the existing dividend policy of 6 cents per annum, paid in equal quarterly instalments will be maintained. Caledonia will continue to maintain its strong financial position so that it can implement its stated growth strategy without the need to raise third party finance.
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