Message Mar 10 Avr 2012 11:57

CEC shareholders in $12.2m dividend

CEC shareholders in $12.2m dividend
April 10, 2012 | Filed under: Business | Posted by: web editor
By NKOLE CHITALA

THE Copperbelt Energy Corporation (CEC) declared dividend of over US$12.2 million to shareholders as at October, 2011.
The firm has also posted a double increase in profit before interest and tax worth US$34.456 million from US$15.720 million the previous year.
CEC company secretary Julia Chaila said during the year under review, dividends of US$4.2 million and US$8.09 million were paid on April 15 and October 7, 2011 respectively.
Mrs Chaila said this in summary consolidated results for the year ended December 2011.
She said the dividends translated into K60 per share in Kwacha terms, using Bank of Zambia mid-rate on the day of closure of the shareholder register as indicated by the notice of dividend payment.
Mrs Chaila said earnings per share increased by 57 percent to US$1.98 per share, from US$1.26 per share the previous year.
Meanwhile, the CEC says a number of enhancements to the company’s transmission network on the Copperbelt are being undertaken to supply new mining activities.
The activities include the construction of new infrastructure at Muliashi in Luanshya, Chambishi and Konkola North for CNMC Luanshya Copper Mines, Non-Ferrous Metal Africa and Vale/Africa Rainbow Minerals.
She also said the development of Kabompo Gorge Hydro project is progressing well, saying it is expected to reach financial close by the end of this year.
She said a special purpose company has been established as a subsidiary Kabompo Hydro Power Company Limited to undertake the project.
Mrs Chaila said tender responses from EPC contractors were received during the quarter of 2012 after a positive decision letter was issued by Zambia Environmental Management Authority during the year in relation to the project.
CEC has also appointed Standard Bank of South Africa as debt arranger and advisor for the project expected to have a positive developmental benefit for communities in Mwinilunga.

http://www.daily-mail.co.zm/?p=1593
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU