Finance, ZCCM-Investment Holdings Plc
Posted on March 7, 2019 at 9:47 am.
Written by Natasha Sichone
On Wednesday morning, Zambia Consolidated Copper Mines-Investment Holdings presented the Zambian Government with a dividend cheque worth K16.8 million. Finance Minister Honorable Margaret Mwanakatwe received the cheque on behalf of the Government from Zambia Consolidated Copper Mines CEO, Mavuto Chipata at the Ministry Of Finance.
Mrs. Mwanakatwe expressed gratitude to Mr. Chipata and explained that it is the third dividend cheque that the Government is receiving from the organization. The first, being a net dividend of K50.3 million to the Industrial Development Corporation (IDC) and the second one to NAPSA of K14.7 million.
“The K0.61 per share final dividend declared by ZCCM-IH translates to a total of K98.1 million out of which, I am receiving this K16.8 million cheque from the 17.25% Class B shares held by government through my office” the Minister said. Margaret Mwanakatwe then went on to encourage other State Owned Enterprises to emulate the performance of Zambia Consolidated Copper Mines Investment Holdings by being more creative and working hard at turning around their institutions to profitability.
The Government’s 77.6 percent shareholding in the organisation with 60.3 percent owned by the Industrial Development Corporation and 17.25 percent owned by the Ministry of Finance. NAPSA also owns 15 percent while the remaining 7.4 percent is owned by various minority shareholders.
When commenting on the dividend cheque, Mavuto Chipata said “I must mention that, our 2018-2023 strategic plan activities are aimed at maximizing and deriving shareholder value from our existing investments in the mines and other sectors, including any new investments we will undertake as a company. ZCCM-IH will continue to play a pivotal role in the mining sector for which the ZCCM-IH brand is deeply associated.