Port­land Ce­ment sets aside 55bn/- as div­i­dends

The African - - NEWS - BY JOSEPH LINO

Tan­za­nia Port­land Ce­ment Com­pany (TPCC) go­ing by the brand name Twiga, will this year dish out Tsh55 bil­lion as div­i­dends to share­hold­ers. Stake­hold­ers will get Tsh 306 per share --an in­crease of 14.6 per­cent per share com­pared to Tsh 267 per share in the pre­vi­ous year. In 2015 the com­pany shared Tsh48.03 bil­lion.

The pro­posed div­i­dend in­cludes two in­terim of Tsh17.09 bil­lion (Tsh95 per share) and Tsh19.97 bil­lion (Tsh111 per share) paid last Oc­to­ber and this Fe­bru­ary, re­spec­tively.

TPCC Man­ag­ing Di­rec­tor, Al­fonso Rod­driguez told share­hold­ers dur­ing the 24th An­nual Gen­eral Meet­ing in Dar es Salaam re­cently that de­spite the de­pre­ci­a­tion of the shilling, net profit in­creased by three per­cent.

“TPCC still holds 40 per­cent of the mar­ket share and the turnover in­creased by 18 per­cent, the op­er­at­ing in­come has in­creased by 4 per­cent be­fore de­pre­ci­a­tion as the ce­ment de­mand in the coun­try grows by seven per­cent,” he noted.

The prof­itabil­ity was at­trib­uted by the ca­pac­ity in­crease last year of 1.5 mil­lion tons than 1.4 mil­lion

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