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Business Reporter
Innscor Africa Ltd has paid a dividend to its employees under Innscor Employees Trust in respect of profits generated by the Zimbabwe Stock Exchange listed blue chip.
In a statement, Innscor chairman of the board of trustees Mr Addington Chinake, said the dividend is an important component of the group’s reward package and reflects Innscor’s objective of encouraging and recognising employees at all levels.
Innscor Africa formed the trust in compliance with Government’s indigenisation and empowerment policy.
Anglo America’s BAT, alongside other multi-corporations such as Zimbabwe Platinum Mines are among companies that complied with the empowerment policy.
The indigenisation law has since been repealed as it was perceived to be inhibiting investment into the country.
“This dividend is in respect of profit generated by the Innscor Africa Limited for the period to December 31, 2018,” said Mr Chinake.
“The Trustees recognise that as an individual, eligible, permanent and full time employee of the group you contribute significantly to the performance of the Group and is delighted to be declaring and paying this dividend to you.
“As you are aware, the dividend is an important component of the group’s reward package and reflects Innscor’s aim of encouraging and recognising employees at all levels.
“As an individual, you are critical to the overall growth and success of the Group.”
“This dividend has been paid directly into your bank account.
“It is the Group’s hope that should profitability continues with your support, a regular dividend will be paid to you.”
In addition to this dividend, the Employee Trust is involved in a number of activities, such as housing, retiree’s loans and revolving loan facilities which employees can access.
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