Firms scramble to declare significant dividends
SEVERAL Zimbabwe Stock Exchange (ZSE) listed firms from diverse sectors of the economy are scrambling to declare significant dividends during the on-going reporting period, an indication of the companies’ resilience and broader economic recovery.
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.
When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business and pay a proportion of the profit as a dividend to shareholders.
ZIMBABWE Stock Exchange (ZSE)
Rainbow Tourism Group (RTG) declared a final dividend of ZW$500 million out of which US$250 000 will be paid in foreign currency and the balance in local currency.
The declared amount will bring the total dividend to shareholders for the year to ZW$880 million (equivalent to US$1,5 million), of which US$500 000 is in foreign currency,” said the hospitality group in its financial statement for period ended 31 December
First Mutual Holdings board resolved that the final dividend of $280,2 million (which is made up of ZWL146,3 million and US$146 344) be declared from profits of the company.
This is in addition to the US$109 758 and ZWL73,2 million paid as an interim dividend.
Rainbow Tourism Group
Mashonaland Holdings returned to full-year profit and announced it will continue to focus on boosting operational effectiveness and portfolio diversification.
The group saw an annual inflation-adjusted profit of $17,2 billion, compared to a loss of $4,8 billion in prior year.
It declared a final dividend of $212,40 million.
A component in the amount of US$200 000 will be paid in foreign currency.
“Notice is hereby given that the Board of Directors of Mashonaland Holdings Limited declared a final dividend of US$200 000, amounting to US$0,0119 cents per share, and ZW$37 281 848, amounting to 2,2092 ZW cents per share in respect of the financial year ended 31 December 2022 payable in respect of 1 687 584 009 ordinary shares in issue.
“The dividend is payable to shareholders registered in the books of the company at the close of business on 14 April 2023,” it said.
Amalgamated agriculture company, TSL Limited directors declared a final dividend of US$0,0012 per share which is in respect of the financial year ending 31 October 2022 and will be payable in full to all shareholders of the Company registered at close of business on 14 April 2023.
On the other hand, POSB declared a dividend of ZWL145 257 029.
In keeping with its strong dividend policy, the Victoria Falls Stock Exchange (VFEX) listed resources group, Caledonia announced a US14 cents quarterly dividend for the period to December 31.
Victoria Falls Stock Exchange
“The quarterly dividend continues to be an important part of the Company’s strategy and during the Year we paid a quarterly dividend of 14 cents a share, providing a healthy yield to our shareholders.
“We believe the dividend coupled with our growth strategy makes us an attractive investment and sets us apart from our industry peers,” the firm said.-chronicle
