• This represents a year-on-year increase in profits of 154% 2022 and149% 2021.
• Government will get K562 million.
• The improved performance at Company level is attributed to an increased quantum of dividend receipts.
ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have approved combined dividends payout amounting to K724 million for 31st December 2022 and 31st December 2021, as the company records a total of K5.94 billion in profit.
ZCCM-IH Corporate Affairs Manager Loisa Mbatha said in a statement that from this amount, Government will get over half a billion Kwacha, which is K562 million through the Industrial Development Corporation (IDC) which will be allocated K437 million, while Ministry of Finance and National Planning will get K125 million.
Ms. Mbatha explained that during the Company’s 19th Annual General Meeting held on 29th September 2023, a total of K387.23 million and K336.07 million was approved for the year ended 31 December 2022 and 31 December 2021 respectively, following a Company profit of K4.26 billion and K1.68 billion recorded for the two years.
“This represents a year-on-year increase in profits of 154% 2022 and149% 2021. The improved performance at Company level is attributed to an increased quantum of dividend receipts and improvements in the performance of investee companies.”
“Further, the overall performance of the investee companies that paid dividends was positively impacted by favorable and sustained copper prices during the two reporting periods,” Ms. Mbatha stated.
She said at Group level, revenues of K11.96 billion and K14.40 billion were recorded during the same period.
“Increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mines PLC which accounts for an average of 98% of Group revenue. The dividends declared for the 2021 and 2022 financial years represent the 7th and 8th consecutive dividend declaration by ZCCM-IH respectively. ZCCM-IH has paid a total of K1.4 billion in dividends to its shareholders since 2015,” she added.