Newly publicly-listed tree processing company, ZAFFICO Plc, will be proposing the declaration of its first dividend to shareholders following its recent initial public offering, according to a SENS announcement.
“To receive and consider the Directors’ recommendation that a final Dividend of ZMW 0.0683 per share be declared for the year ended 31st December 2019 which will be payable to all eligible shareholders registered in the books of the Company at the close of business on 26th June 2020, being the record date”, was the statement issued on 6th March 2020 in Ndola by order of the ZAFICCO board.
ZAFFICO ’s IPO raised K824 million from the sale of 400 million shares. Should the proposed dividend of ZMW 0.0683 per share be approved, freshmen investors will be awarded a K27.32 million payout barely weeks after the company’s listing.
The 18th Annual General Meeting will be held at the Mulungushi International Conference on 27th March 2020 at 09.00 hrs. Board Chairperson, Anne D. Gray Kunda will have a first-hand feel of what it’s like to host investors in her company.
As of 2018, the company recorded an EBITDA margin of 66.80% compared to 71.20% in the previous year. Net income margin was also lower in 2018 at 48.87% compared to 55.02% in the previous. At the AGM, the company will announce its latest results and investors will be keen to see the company’s performance on the aforementioned ratios, among other key financial performance metrics.
According to the IPO prospectus, ZAFFICO’s expected revenue and net profit for the year ending 31 December 2019 to be approximately K266.3 million and K155.1 million respectively.
Currently, ZAFFICO owns about 50,000 hectares of pine and eucalyptus plantations of which a total of 1,400 hectares of pine and eucalyptus trees has been planted in Kawambwa District and a total of 1,100 hectares in Shiwangandu District and the remaining hectares of plantations are on the Copperbelt Province.