The IDC Group Chief Executive Officer, IDC, and ZCCM-IH senior management and staff, Members of the Press, Good morning
I am delighted to be here to present the dividend cheque to the Industrial Development Corporation, of approximately K27.2 million.
Early in the week, we presented dividend cheques to other shareholders, the Ministry of Finance with K9.2 million and the National Pension Scheme Authority with K7.9 million.
This presents the last one, to you our majority shareholder from a total of K53 million.
I must mention that ZCCM-IH also has various minority shareholders both individual and institutional numbering over 3, 000, who are getting their fair share of the cake as well, from the remaining K8.7 million.
For us, being here to present the third cheque to the IDC in the past 3 consecutive financial years, is a great achievement.
More so, we are encouraged by your recognition during last year’s IDC Group Annual event, of being voted and awarded the Enterprise With Highest Dividend Declared in the IDC Group for 2018 and 2019 financial years; and Best Performer by Targets, having maintained profitability of the company operations in the year.
One of our strategic pillars is to increase shareholder value through consistent dividend pay-outs and portfolio optimisation.
We believe this will be realised by value creation within our portfolio through:
- migrating from the dividend to the royalty revenue model;
- mineral value addition;
- commodity diversification;
- participation in the mining supply chain; and,
- driving improvement in the performance of our subsidiaries;
We have taken a strategic stance to grow our foothold in the mining sector and generate organic growth and new revenue streams.
This stance includes holding significant controlling stakes in new investments and proactively participating in the management of new assets.
As ZCCM-IH, we remain optimistic at the future outlook of the company, as we continue on a growth and transformation course in line with our 2018-2023 strategic plan.