ZCCM-IH Pays K243 Million to Shareholders After Record Profits
ZCCM Investments Holdings Plc (ZCCM-IH) has announced a dividend payout of K243 million for the 2023 financial year, approved during the Company’s 20th Annual General Meeting held on June 28, 2024.
The dividend, part of a ZMW4.84 billion profit recorded for 2023, represents a 14% increase from the previous year’s ZMW4.26 billion profit.
Of the dividend amount, ZMW187 million will be distributed to the Government of Zambia through the Industrial Development Corporation (ZMW146 million) and the Ministry of Finance and National Planning (ZMW42 million).
The Company attributed its improved performance to significant royalty income of ZMW1.2 billion from Kansanshi Mining Plc and enhanced performance across its portfolio of investee companies.
However, at the Group level, ZCCM-IH reported a 24% increase in losses amounting to ZMW4.7 billion for 2023, largely due to underperformance by Mopani Copper Mines Plc.
Despite this, the Group’s total assets saw a notable 20% increase, rising from ZMW48.92 billion to ZMW58.46 billion, driven by higher valuations of investments in associates and other current assets.
This marks the ninth consecutive year of dividend declarations by ZCCM-IH, bringing the total dividends paid to shareholders since 2015 to over ZMW1.6 billion.
Loisa Mbatha, Corporate Affairs Manager at ZCCM-IH, highlighted the company’s commitment to delivering consistent returns to its shareholders amidst challenging market conditions.
