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over the cheque to NSSA board chairman Mr Innocent Chagonda at a ceremony held in the capital yesterday.
Mr Nkala commended NSSA for investing in the financial institution.
“Since the rights issue three years ago, FBC’s share price has doubled. FBC is totally committed to paying out the cash dividend,” he said.
Mr Nkala said FBC Holdings has been operating profitably and has declared a dividend for its shareholders 11 times in the past 12 years. Mr Chagonda said FBC Holdings had proved itself a worthy investment for NSSA.
“It gives me a great pleasure to have received such a cheque, this is the second time we have received a cheque from you,” he said
Mr Chagonda commended FBC Holdings for its operational efficiency and taking much needed risk in grasping opportunities.
“We have not received comparable support from other investments than we are getting from FBC,” he said.
In the year ended December 31, 2011 FBC reported record profits.
Net profit rose 644 percent to US$12,5 million and earnings per share shot up 21 000 percent to 2,11c from 0,01c. Total income for the group was US$56,9 million while expenses were at US$37,5 million, while its assets grew by 18 percent to US$280 million from US$236 million. NSSA is one of FBC Holdings’ shareholders among several others such as Scaiflow Investments, Bartlous Investments, and Herbcorn Engineering.
Online Reporter