ZCCM-Investment Holdings has declared combined dividends amounting to K724 million after the firm recorded a total of K5.94 billion in profits for the years 2021 and 2022.
ZCCM-IH shareholders approved the combined dividends during the 19th Annual General Meeting (AGM) held on September 29,2023, according to, Loisa Mbatha, the Company’s Corporate Affairs Manager.
Mbatha confirmed this in a statement issued in Lusaka on Monday.
“Government will get K562 million from this amount through the Industrial Development Corporation (K437 million) and the Ministry of Finance and National Planning (K125million),” she said.
Mbatha said a total of K387.23 million and K336.07 million was approved for the year ended December 31, 2022 and December 31, 2021 respectively.
She said that this followed a company profit of K4.26 billion and K1.68 billion recorded for the years ended December 31, 2022 and December 31, 2021 respectively.
Mbatha said this represented a year-on-year increase in profits of 154 percent in 2022 and 149 percent in 2021.
“The improved performance at company level is attributed to an increased quantum of dividend receipts and improvements in the performance of investee companies,” she said.
Mbatha said the overall performance of the investee companies that paid dividends was positively impacted by favourable and sustained Copper prices during the two reporting periods.
She added that at Group level, revenues of K11.96 billion and K14.40 billion were recorded for years ended December 31, 2022 and December 31, 2021 respectively.
“Increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mines PLC which accounts for an average of 98 percent of Group revenue,” Mbatha said.
She said the dividends declared for the 2021 and 2022 financial years represent the seventh (7th) and eighth (8th) consecutive dividend declaration by ZCCM-IH respectively.
Mbatha said ZCCM-IH had paid a total of K1.4 billion in dividends to its shareholders since 2015.
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