Source - SMW
Caledonia Mining has declared an increased quarterly dividend of seven-and-a-half US cents, or $0.075, on each of the company's common shares, a 9.1% increase from the previous quarterly dividend of 6.875 cents.

Caledonia Mining chief executive Steve Curtis said the announcement reflected 'our increased confidence in the outlook for the business'.

He said that as reported in mid-November, the company's financial performance has improved as a result of increased production and the continued higher gold price, and that this improvement has continued in the final quarter of 2019.

Caledonia's primary asset is a 49% interest in an operating gold mine in Zimbabwe, called Blanket Mine.

Curtis added: 'We expect the Central Shaft to be commissioned in the fourth quarter of 2020; thereafter we look forward to further increases in operating cash flow as production increases to the target rate of 80,000 ounces of gold per annum from 2022, as capital expenditure falls further and we begin to realise the operational efficiencies arising from the new shaft.'

At 9:23am: (LON:CMCL) Caledonia Mining Corp share price was +10p at 625p

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