Caledonia Mining Declares Maiden Dividend - 

 

 

http://www.proactiveinvestors.co.uk/companies/news/52868/caledonia-mining-declares-maiden-dividend-52868.html 

Caledonia Mining News and Articles on Proactive Investors 
Caledonia Mining declares maiden dividend
 

Caledonia Mining 
( LON:CMCL TSE:CAL) has marked a further milestone in its 
development by declaring a maiden dividend. 
The board has declared a first dividend payment of half a cent 
(C$0.005) per share. 
It comes after the firm held a special meeting of shareholders, 
which approved the...
 

CALVF Today's press release - 

http://www.caledoniamining.com/press.php 

CALVF company has a lot of US $millions in cash on hand and 
is offering a dividend at the same time - smile 

"The dividend of one-half cent per pre-consolidated share 
is approximately one-tenth of Caledonia's cash on hand. 

Caledonia retains the financial capacity to continue to invest 
in expanding its business." 

Earlier this month, broker Canaccord suggested the firm was 
attractive to investors on a number of fronts. 

"With the net cash balance building, Caledonia offers a premium 
dividend, production and earnings growth versus peers,” 
it said. 

The company trades on a 65% discount to peers on three key metrics, 
while average annual free cash flow will be 
US$33m over the next 5 years. 

This will allow the company to fund its five-year investment 
programme of US$37mln internally, while leaving ample room for 
dividend growth, argued Canaccord. 

It has a target price of 16p/share, 
and forecasts 
Caledonia will have US$55mln in net cash 
by the end of 2014, equal to 90% of 
the current market capitalisation.
 

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God Bless