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

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) announced a quarterly dividend on Tuesday, July 2nd, Wall Street Journal reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.14 per share on Friday, July 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Friday, July 12th.

Caledonia Mining has increased its dividend by an average of 18.7% per year over the last three years. Caledonia Mining has a dividend payout ratio of 48.7% indicating that its dividend is sufficiently covered by earnings.

Caledonia Mining Trading Up 4.5 %

Shares of Caledonia Mining stock traded up $0.43 during trading hours on Tuesday, reaching $9.92. 32,515 shares of the stock traded hands, compared to its average volume of 49,968. Caledonia Mining has a one year low of $8.91 and a one year high of $13.55. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The company has a market cap of $127.27 million, a P/E ratio of 138.00 and a beta of 0.69.

Caledonia Mining (NYSEAMERICAN:CMCL) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.27 earnings per share for the quarter. Caledonia Mining had a return on equity of 7.95% and a net margin of 1.91%. The firm had revenue of $38.53 million for the quarter.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald raised Caledonia Mining from a “hold” rating to a “speculative buy” rating and set a $13.50 price target on the stock in a report on Monday, April 29th.

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.