By SHARON ZULU
ZCCM Investments Holdings (ZCCM-IH) shareholders during the company’s 19th annual general meeting held on Friday, September 29, 2023, approved combined dividends totaling k724 million for the financial years ended 31 December 2022 and 31 December 2021.
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Corporate affairs manager Loisa Mbatha said government would get K562 million from the K724 million declared dividends through the Industrial Development Corporation (IDC) and K437 million through the Ministry of Finance and National Planning.
Ms Mbatha said a total of K387.23 million and K336.07 million was approved for the year ended 31 December 2022 and 31 December 2021 respectively.
Ms Mbatha explained that at group level, revenues of K11.96 billion and K14.40 billion were recorded for years ended 31 December 2022 and 31 December 2021 respectively. She said increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mine which accounts for an average of 98% of group revenue.
“This follows a Company profit of K4.26 billion and K1.68 billion recorded for the years ended 31 December 2022and 31 December 2021 respectively. 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 favourable and sustained copper prices during the two reporting periods,” Ms Mbatha said.
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