ZCCM Investments Holdings Declares K243 Million Dividend for 2023
ZCCM Investments Holdings Plc (ZCCM-IH) has announced a dividend of K243 million for the 2023 financial year, as approved by shareholders during the company’s 20th Annual General Meeting (AGM) held on Friday, June 28, 2024.
Of this amount, ZMW187 million will be allocated to the Government of the Republic of Zambia, with ZMW146 million going to the Industrial Development Corporation and ZMW42 million to the Ministry of Finance and National Planning.
The dividend approval follows a notable company profit of ZMW4.84 billion for the 2023 financial year, a 14% increase from the ZMW4.26 billion profit recorded in 2022.
This enhanced performance was largely attributed to the royalty income of ZMW1.2 billion received from Kansanshi Mining Plc and improved performance of investee companies in 2023.
At the Group level, ZCCM-IH reported a 24% increase in losses, amounting to ZMW4.7 billion for 2023. This was primarily due to the underperformance of Mopani Copper Mines Plc.
Despite the losses, the Group’s total assets increased by 20%, rising from ZMW48.92 billion to ZMW58.46 billion, driven by the increased value of investments in associates and other current assets.
The dividends declared for the 2023 financial year mark the ninth consecutive year of dividend declarations by ZCCM-IH, bringing the total dividends paid to shareholders since 2015 to over ZMW1.6 billion.
