The Post of Zambia : ZCCM-IH to pay dividends



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Message Mar 30 Sep 2014 21:44

The Post of Zambia : ZCCM-IH to pay dividends

Article Post of Zambia - ZCCM-IH to pay dividends - September 2014.jpg

By Gift Chanda | Updated: 30 Sep,2014 ,15:15:34 | 107 Views | 0 Comments

ZCCM-IH says it will pay its shareholders dividends for the first time in its history, a move that will put pressure on other government interests to follow suit.

Set up in 2000, ZCCM-IH which holds minority stakes in the country’s mines on behalf of the government, said its board of directors had approved a final dividend of K1.56 per share.
This dividend means the government would receive K220 million (US$35 million) and K31 million (US$5 million) would be channeled to other shareholders.

The announcement followed the unveiling of the company’s annual financial results.
In the 12 months to the end of March, the group recorded a profit after tax of K277 million compared to the K762 million recorded previously.

The company, which holds stakes ranging from 10 per cent to 30 per cent in businesses that moved into private hands in the 1990s after the government reversed former president Dr Kenneth Kaunda’s nationalization programme, said retained earnings as at March 31 were positive at K4,295 million compared to K4, 018 million last year.

“The financial year ended 31 March 2014 was an exciting year for ZCCM Investments Holdings Plc (ZCCM-IH). Significant milestones such as the restructuring of the balance sheet through a Claw-Back rights offer were successfully completed,” it said in the report.
“This development saw the company’s balance sheet being strengthened in a significant way thereby placing the company in a position to leverage this strength to continue with its growth strategy.”

The ZCCM-IH, which is due to hold its annual general meeting on October 7, saw its share price on the Lusaka Stock Exchange close the financial year at K27 from K12.5 last year.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU


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Inscription: Sam 19 Sep 2009 09:49

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Message Mer 1 Oct 2014 11:05

Re: The Post of Zambia : ZCCM-IH to pay dividends

...un bon début de com et le GRZ qui se voudra plus gourmand maintenant...

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