Lusaka Securities Exchange (LuSE) listed mining investment vehicle in Africa’s copper hotspot, Zambia, ZCCM-IH Plc on 04 March 2019 declared a K50.3 million (circa.USD$4.13million) net dividend to its shareholder the Industrial Development Corporation (IDC). This follows a shareholders approval of a Final Dividend of K0.61 per share at the Annual General Meeting (AGM) held on 28thJanuary 2019. ZCCM-IHs FY18 earning grew by a 16% margin to K843 million from K729 million in 2017.
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 sectorfor the country to benefit from its mineral wealth, adding that ZCCM-IH should implore its investee companies in the mines to start declaring dividends.
Other dividends ZCCM-IH paid was K14.7 million to NAPSA a state owned pension fund another of its shareholder.
(Exchange rate used fore conversion K12.15/USD$1)
