Chronicle Editor
Sikhulekelani Moyo, Business Reporter
ZIMBABWE’S largest financial services group by assets, CBZ Holdings, has declared $1 billion dividend for the year ended 31 December 2021.
Group corporate legal secretary, Ms Rumbidzayi Jakanani, said in a notice yesterday that the dividend will be payable in full to all shareholders of the company registered as at the close of the business on June 24, 2022.
“Notice is hereby given that the board declared a financial dividend of $1 billion ($191,57 cents per share) for the year ended 31 December 2021 payable in respect of all the ordinary shares of CBZ Holdings Limited,” reads part of the notice.
“The payment of the dividend will take place on or about 30 June 2022. The applicable shareholder’s tax will be deducted from the gross dividends.”
Ms Jakanani said shares of the company would be traded cum-dividend on the Zimbabwe Stock Exchange (ZSE) up to the market day of 21 June 2022 and ex-dividend as from 22 June 2022.
Meanwhile, CBZ Holdings total income for the year under review increased to $42,5 billion compared to $23,5 billion in 2020 largely driven by significant growth in interest income.
The group’s interest income for the period grew to $21,8 billion from $8,1 billion in prior year with the growth attributed to growth in interest from loans to $14,8 billion from $2,9 billion in 2020.
During the year under review, non-interest income at $23 billion was the largest contributor to total income. Commission and fee income at $9,2 billion was the largest contributor to total non-interest income followed by agro-business income of $4,5 billion and unrealised profit on foreign currency exchange of $4,1 billion.
On insurance, group’s charman Mr Marc Holtzman said the group will continue with the acquisition transaction of First Mutual Holdings (FML), which will create a critical mass factor that will allow the group to perform and achieve even more positive results. The bank got into a share purchase agreement last October in terms of which the giant financial services group would acquire a stake of 31,22 percent shares held by National Social Security Authority (Nssa). — @SikhulekelaniM1
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