By BUSINESS REPORTER
ZCCM-IH is targeting to grow its dividend revenue to K1.3 billion by 2023 from the current K41.3 million through investing in high yielding payment assets.
This is according to the recently released Strategic Plan 2018-2023 for the company.
According to the plan, the K1.3 billion dividend revenue would be driven by increased exposure to high dividend yielding assets in the local and foreign listed and unlisted businesses. It indicated that ZCCM-IH would diversify into other viable sectors of the economy to balance the portfolio and spread the risk in commodity markets volatility.
“The dividend yield target over the strategic period 10 percent from current levels of 1 percent. This translates in a growth in dividend revenue from K41.3 million to K1.3 billion in 2023,” said ZCCM-IH.
ZCCM-IH, the plan indicates, was currently focusing development activities in several key sectors that were intended to give diversification benefits while continuing to participate in the mining sector.
It indicated that ZCCM-IH intended to invest in available opportunities in mineral beneficiation and value addition while realising optimal and tangible returns for shareholders.
“ZCCM-IH realises that value addition across other sectors, outside mining, are equally key to Zambia’s all-inclusive economic growth and developmental agenda,” the company said.
ZCCM-IH said it was repositioning itself to becoming a transformative company with an investment agenda that benefits all its stakeholders.
It further said a constant focus in Zambia in recent years had been the pursuit of mineral beneficiation in the quest to achieve economic transformation.
“This is crucial in order to foster an inclusive economy, promote the development of Small and Medium Enterprises and give Zambia an economic advantage,” ZCCM-IH said.