REG - Caledonia Mining Crp - Caledonia Declares Third Quarterly Dividend <Origin Href="QuoteRef">CAL.TO</Origin>

Caledonia MiningAnnouncement

06/09/2014 02:41

For best results when printing this announcement, please click on the link
below:

http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140708:nRSH5968La


RNS Number : 5968L
Caledonia Mining Corporation
08 July 2014 
 
Caledonia Mining Corporation 
 
(TSX: CAL, OTCQX: CALVF, AIM: CMCL) 
 
Caledonia Declares Third Quarterly Dividend 
 
July 8, 2014: Further to the November 25, 2013 announcement in respect of
Caledonia Mining Corporation's ("Caledonia" or the "Company") quarterly
dividend policy, Caledonia is pleased to announce that the Board of Directors
has declared Dividend Number 5, 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 July
18, 2014.  The ex-dividend date will be July 16, 2014.  Dividend cheques will
be mailed on July 31, 2014. 
 
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 intends to pay an annual
aggregate dividend of six Canadian cents ($0.060) per common share, payable on
a quarterly basis. 
 
About Caledonia Mining 
 
Caledonia is a mining, exploration and development company focused on Southern
Africa.  Following the implementation of indigenisation in Zimbabwe,
Caledonia's primary asset is a 49% interest in an operating gold mine in
Zimbabwe ("Blanket").  Caledonia's shares are listed in Canada on the Toronto
Stock Exchange as "CAL", on London's AIM as "CMCL" and are also traded on the
American OTCQX as "CALVF". 
 
Caledonia is debt-free and at March 31, 2014 had cash of $26.7m held with its
bankers in the UK, Canada and South Africa.  Blanket mine is a low-cost
producer: in the year ended December 31, 2013, Blanket's on-mine costs were
US$613 per ounce of gold produced, its all-in sustaining cost was US$978 per
ounce of gold and its all-in cost (which includes the investment in expansion
projects) was US$1,109 per ounce. 
 
 Caledonia Mining CorporationMark LearmonthTel: +27 11 447 2499 marklearmonth@caledoniamining.com  Numis John Prior/Jamie Loughborough/ James BlackTel: +44 20 7260 1000  
                                                                                                                                                                          
 BlytheweighTim Blythe/Halimah Hussain/Camilla Horsfall Tel: +44 20 7138 3204                      WH IrelandAdrian Hadden/Nick FieldTel: +44 20 7220 1751                
                                                                                                                                                                          
                                                                                                                                                                          
                                                                                                                                                                            
 
 
Cautionary Note Concerning Forward-Looking Information 
 
Information and statements contained in this news release that are not
historical facts are "forward-looking information" within the meaning of
applicable securities legislation that involve risks and uncertainties
relating, but not limited to Caledonia's current expectations, intentions,
plans, and beliefs.  Forward-looking information can often be identified by
forward-looking words such as "may" and "will" or similar words suggesting
future outcomes or statements about future events. Forward-looking information
in this news release include the payment of future dividends.  This
forward-looking information is based, in part, on assumptions and factors that
may change or prove to be incorrect, thus causing actual results, performance
or achievements to be materially different from those expressed or implied by
forward-looking information.  Such factors and assumptions include, but are
not limited to amendments to or termination of the dividend policy, the grade
and recovery of ore which is mined varying from estimates, capital and
operating costs varying significantly from estimates, inflation, changes in
exchange rates, fluctuations in commodity prices and other factors. 
 
Potential shareholders and prospective investors should be aware that these
statements are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from those
suggested by the forward-looking statements.  Such factors include, but are
not limited to: fluctuations in gold price, risks and hazards associated with
the business of mineral exploration, development and mining, risks relating to
the credit worthiness or financial condition of suppliers, refiners and other
parties with whom the Company does business; inadequate insurance, or
inability to obtain insurance, to cover these risks and hazards, employee
relations; relationships with and claims by local communities and indigenous
populations; political risk; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs; global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the Company's title to properties
including ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase and currency fluctuations.  Shareholders are cautioned not to place
undue reliance on forward-looking information.  By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will not occur. 
Caledonia undertakes no obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information, future
events or other such factors which affect this information, except as required
by law. There is no guarantee that Caledonia will maintain the Dividend
Policy. 
 
This information is provided by RNS
The company news service from the London Stock Exchange