Shareholders of ZCCM Investments Holdings Plc -ZCCM-IH- have approved a 53 million Kwacha dividend at 33 ngwee per share.

This follows a profit of 153.4 million Kwacha at the company level for the financial year ending December 2019.

The dividend was approved during the virtual 17th Annual General Meeting held today.

At the ZCCM-IH Group level, profit for the period was 307 million Kwacha compared to 448 million Kwacha for 31st March 2019 year end.

Public Relations Manager LOISA KAKOMA says in a statement that the decline in profit is on account of 57 percent reduction in share of profit from companies such as Kansanshi Mining Plc and Copperbelt Energy Corporation -CEC- Plc.

She says the Group’s total assets increased by 14 percent and an 18 percent rise in retained earnings while at Company level, retained earnings increased by 19 percent due to the profit recorded for the period of 153.4 million Kwacha.

This is the fifth consecutive time that the Company has declared a dividend in line with its strategic goal of ensuring shareholder return on investment.

ZCCM-IH has paid out 590 million Kwacha in total dividend to its shareholders in the past five years.

ZCCM-IH has shares in about 20 companies, many of them mining firms.

Source: https://www.znbc.co.zm/news/zccm-ih-declares-k153m-profitk53m-dividend/