ZCCM-IH pays K16.8 million in dividends to Govt
Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) has paid K16.8 million in dividends to Government for its shares in the company.
This marks the third time that the government is receiving a divided cheque from ZCCM-IH.
Presenting the cheque to Finance Minister Margaret Mwanakatwe in Lusaka, ZCCM-IH Acting Chief Executive Officer, Mabvuto Chipata says the K16.8 million is part of the total dividend of K98.1 million ZCCM-IH is remitting to its Shareholders.
Mr. Chipata says the company has handed over 2 dividend Cheques out of the K98.1 million total dividends for the 2018 Financial Year.
He says the first one was a Net dividend of K50.3 million to the Industrial Development Corporation (IDC) and the second one to the National Pension Scheme Authority of K14.7 million.
He says his company remains focused on continuing to create value in all its investment in order to sustain the delivery of the return on investment for all its shareholders.
Speaking after receiving the dividend Cheque, Finance Minister Margaret Mwanakatwe has commended ZCCM-IH for its effort in keeping the company on a profitable path.
Mrs. Mwanakatwe has since implored other state owned enterprises to emulate the performance of ZCCM-IH by being more creative and working hard at turning around their institutions to profitability.
Government has 77.6 percent shareholding in ZCCM-IH with 60.3 percent owned by the Industrial Development Corporation (IDC) and 17.25 percent owned by the Ministry of Finance while NAPSA owns 15 with the remaining 7.4 percent owned by various Minority shareholders.