04th March 2019, Lusaka – ZCCM Investments Holdings Plc (ZCCM-IH) has declared a dividend worth K50.3 million to the Industrial Development Corporation (IDC) and K14.7 million to the National Pension Scheme Authority (NAPSA).
This is out of the K98 million total dividend declared for the year ended 31st March 2018.
Speaking during the dividend cheque handover events, ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata says the dividend follows the Shareholders approval of a Final Dividend of K0.61 per share at the Annual General Meeting held on 28th January 2019.
“As a Group, ZCCM-IH made a profit after tax of K843 million in 2018 from K729 million in 2017. This 16% increase in profit has led to the K98.1 million total dividend declared for 2018”, says Mr. Chipata.
He further said ZCCM-IH remains optimistic at the future outlook of the company, as it continues on a growth and transformation trajectory in line with our 2018-2023 strategic plan.
Receiving the dividend cheque, IDC Group Chief Executive Officer Mr Mateyo Kaluba thanked ZCCM-IH for being consistent in paying dividends, calling on other state owned enterprises in the Group to emulate ZCCM-IH in remitting dividends to the IDC.
“We supervise a lot of companies who unfortunately over the years have not brought returns to us. As shareholders, we take special recognition of companies like ZCCM-IH who have been consistent. This is what we expect as shareholders”, says Mr. Kaluba.
He further urged ZCCM-IH to take a lead in the mining sector for the country to benefit from its mineral wealth, adding that ZCCM-IH should implore its investee companies in the mines to start declaring dividends.
Meanwhile, NAPSA General Manager Mr. Yollard Kachinda has also thank ZCCM-IH for making a bold decision to declare a dividend in line with the company’s dividend policy.
“This is a very important development and a clear demonstration of the positive trajectory that we are on as far as our investments in ZCCM-IH are concerned. It is every business’ objective to make a return on its investment and this is exactly what we are seeing today” says Mr Kachinda.
The IDC is the majority shareholder of ZCCM-IH with a 60.28% stake, while NAPSA holds 15%.