adminCharity Ruzvidzo Business Reporter
ZIMBABWE’s largest financial services group by assets, CBZ Holdings (CBZ), has declared a $2,6 million total dividend for the year ended December 2014. The group’s board yesterday said the dividend would be payable to registered shareholders next month. “CBZ Holdings Limited board has declared a final dividend of $1,388,945 (0,202 cents per share) for the year ended December 31, 2014 bringing the total dividend for the year 2014 to $2,648,190 (0,386 cents per share)’’, the board reported yesterday.
“The dividend shall be payable to members registered in the books of the company on April 2, 2015. The transfer book and register of members will be closed from April 3 ,2015 to April 6,2015. Dividend funds will be available to shareholders on or about April 15, 2015.”
The board advised shareholders to submit their bank details to transfer secretaries at ZB centre in Harare.
Last year CBZ emerged as one of the strongest institutions after surpassing the $100 million prescribed minimum capital requirement, which is effective by 2020.
In 2012, the Reserve Bank of Zimbabwe raised capital requirements for banks ten-fold in a bid to protect depositors’ funds and CBZ was amongst the institutions that complied.
Recently, CBZ obtained approval from shareholders to finance regional electricity projects.
The bank will provide finance to regional firms to the tune of over $500 million for natural gas beneficiation projects and construction of power generation plants.
The development is part of the group’s initiatives to boost income streams.
Bongani Moyo
Online Reporter