Portland Cement sets aside 55bn/- as dividends
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