ZCCM IH approves K243m Dividend
By Masauso Mkwayaya
ZCCM Investments Holdings has approved a 243 million Kwacha dividend for its shareholders for the 2023 financial year.
The approval was made during the company’s 20th Annual General Meeting -AGM-held on June 28th, this year.
ZCCM -IH Corporate Affairs Manager, LOISA MBATHA says 187 million Kwacha will go to the government of the Republic of Zambia.
She says 146 million Kwacha will be paid to the Industrial Development Corporation, while 42 million Kwacha will be paid to the Ministry of Finance.
Ms. MBATHA says the approval of the dividend follows a company profit of 4.84 billion Kwacha recorded for the 2023 financial year end, a 14-percent increase from 4.26 billion Kwacha profit recorded in 2022.
She says the improved performance was largely due to the royalty income of 1.2 billion received from Kansanshi Mining Plc among others.
She adds that the dividends declared for the 2023 financial year mark the ninth consecutive dividend declaration by ZCCM-IH, bringing the total dividends paid to shareholders since 2015 to over 1.6 billion Kwacha.
Ms. MBATHA says at the Group level, there was a 24-percent increase in losses, amounting to 4.7 billion for 2023, primarily due to the underperformance of Mopani Copper Mines Plc.
She says the Group’s total assets however rose by 10-percent from 48.92 billion Kwacha to 58.46 billion Kwacha driven by the increased value of investments in associates and other current assets
