Economy

CEC Shareholders in $12.2m Dividend

The Copperbelt Energy Corporation (CEC) declared dividend of over US$12.2 million to shareholders as at October, 2011.  The firm has also posted a double increase in profit before interest and tax worth US$34.456 million from US$15.720 million the previous year.

CEC company secretary Julia Chaila said during the year under review, dividends of US$4.2 million and US$8.09 million were paid on April 15 and October 7, 2011 respectively.  Mrs Chaila said this in summary consolidated results for the year ended December 2011.

She said the dividends translated into K60 per share in Kwacha terms, using Bank of Zambia mid-rate on the day of closure of the shareholder register as indicated by the notice of dividend payment.

Mrs Chaila said earnings per share increased by 57 percent to US$1.98 per share, from US$1.26 per share the previous year.

Source: Zambia Daily Mail

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