02ndOctober 2023, Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders during the Company's nineteenth (19th) Annual General Meeting (AGM) heldon Friday, 29th September 2023, approved combined dividends totalling K724 millionfor the financial years ended 31 December 2022 and 31 December 2021. Government will get over half a billion Kwacha (K562 million)from this amount through the Industrial Development Corporation (K437 million) and the Ministry of Finance and National Planning (K125 million).
A total of K387.23 millionand K336.07millionwas approved for the year ended 31 December 2022 and 31 December 2021 respectively. This follows a Company profitof ZMW4.26 billionand ZMW1.68 billion recorded for the years ended 31 December 2022 and 31 December 2021 respectively. This represents a year-on-year increase in profits of 154%(2022) and149% (2021). The improved performance at Company levelis attributed to an increased quantum of dividend receipts and improvements in the performance of investee companies. Further, the overall performance of the investee companies that paid dividends was positively impacted by favourable and sustained copper prices during the two (2) reporting periods.
At Group level, revenues of ZMW11.96 billion and ZMW14.40 billionwere recorded for years ended 31 December 2022 and 31 December 2021respectively. Increased revenue in 2021 and 2022 is due to the acquisition of Mopani Copper Mines PLC which accounts for an average of 98% of Group revenue. The dividends declared for the 2021 and 2022 financial years represents the seventh (7th) and eighth (8th) consecutive dividend declaration by ZCCM-IHrespectively. ZCCM-IH has paid a total of K1.4 billion in dividends to its shareholders since 2015.
End
Issued by:
ORIGINAL SIGNED
Loisa Mbatha
Corporate Affairs Manager
ZCCM Investments Holdings Plc
loisa.mbatha@zccm-ih.com.zm

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ZCCM Investment Holdings plc published this content on 02 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 12:27:23 UTC.