ZCCM Investments Holdings Plc (ZCCM-IH) has handed over a K146 million dividend cheque to its majority shareholder, the Industrial Development Corporation (IDC), for the 2023 financial year.
ZCCM-IH CEO, Dr Ndoba J.Vibetti handed over the dividend cheque to IDC CEO Mr Cornwell Muleya, earlier today. Some key highlights from Dr. Vibetti’s remarks during the handover ceremony:
• Dividend Consistency: This marks the 9th consecutive year that ZCCM-IH has paid a dividend to the IDC. Last year, a record dividend of K436 million was paid for the financial year 2021 and 2022. Since 2015, ZCCM-IH has paid approximately K990 million to the IDC.
• Positive Outlook: Zambia Gold Company has commenced remedial works at the Kasenseli gold mine in Mwinilunga, with operations set to begin in the third quarter of this year; Maamba Energy Limited has secured financing for the construction of an additional 300 MW power plant within two years, along with the lithium prospecting licenses it has obtained.
• Financial Growth: In 2023, ZCCM-IH’s profit increased by 14% to K4.84 billion; total assets up by 20% to K58.46 billion.
• Investor Confidence: ZCCM-IH’s share price surged by 52.4% on the Lusaka Securities Exchange, from K42 to K64 per share, boosting market capitalisation from K6.3 billion to K9.6 billion.
