We report a high-performance pulsed optically pumped (POP) Rb clock based on a novel magnetron-type microwave cavity. The cavity has a volume of 30 mL, enabling a highly homogenous microwave field distribution. With the laser frequency tuning to the ground-state hyperfine level F = 2 of the D2 line, we observe a Ramsey fringe contrast of 52% in terms of optical absorption detection. The resultant shot noise limit is estimated to be [Formula: see text]. The clock frequency stability is measured as [Formula: see text] (1-100 s), which is limited by the relative intensity noise of the light.