Caledonia Mining (Caledonia) is a gold mining company that produced 43,000 ounces (43koz) of gold from its mine in Zimbabwe in 2015 and is investing a total of over US$50m from cash flow, with the aim of almost doubling production by 2021.

The company is a profitable gold producer that has been paying a quarterly dividend since the beginning of 2014. It has just increased its quarterly dividend by 22%, to an annualised US5.5c per share and, based on the current share price, the projected annual dividend yield for 2016 equates to 4.8%.