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MoF receives K16.8m dividend from ZCCM-IH

The Ministry of Finance has received a K16.8 million dividend cheque from ZCCM Investments Holdings Plc.
ZCCM-IH is declaring a dividend of K98.1 million to shareholders after recording a profit of K843 million in 2018.
Minister of Finance Margaret Mwanakatwe has since implored other State Owned Enterprises, to emulate the performance of ZCCM-IH by being more creative and working hard at turning around their institutions to profitability.
Mrs. Mwanakatwe says her ministry through the Investments and Debt Management department will continue providing a conducive environment for better performance of State Owned Enterprises by providing right policies.
“I wish to commend the ZCCM-IH Board, Management and staff for their effort in keeping the Company on a profitable path. We are looking forward to more and much bigger dividends in the near future considering the bright prospects in the copper prices,” she said.
This is the third time Government is receiving a dividend cheque from ZCCM-IH.
And ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata says the company remains focused to create value in all its investment.
Mr. Chipata says the company will sustain delivery for the return on investment for all the shareholders.
Government has 77.6% shareholding in ZCCM-IH with 60.3% owned by the Industrial Development Corporation (IDC) and 17.25% owned by the Ministry of Finance.
NAPSA owns 15% while the remaining 7.4% is owned by various minority shareholders.
The Shareholders General Meeting of ZCCM-IH held on 28th January 2019 in Lusaka, ZCCM-IH reported a Group after tax profit of K843 million in 2018 compared to K729 million in 2017 representing a 16% increase.
The company approved a Final Dividend of K0.61 per share for the period ended 31st March 2018.
The K0.61 per share final dividend declared by ZCCM-IH translates to a total of K98.1 million out of which, the Ministry of Finance has received K16.8 million.


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