Leading financial services provider, Commercial Bank of Zimbabwe (CBZ) is issuing a ZWL$ 5.5 million interim payout to its shareholders at 1.06 ZWL cents per share on account of improved earnings during the first six months of 2019.
During the period, the diversified financial services group posted profit of ZWL$ 137.4 million, a 300 percent escalation from the ZWL$ 34.3 million that it realized during the same period last year.
“Notice is hereby given that the Board declared an interim dividend of ZWL 5,516,745.00 (1.06 ZWL cents per share) for the six months ended 30 June 2019 payable in respect of all the ordinary shares of the Company. This dividend will be payable in full to all Shareholders of the Company registered at the close of business on 8 November 2019,” Group Legal Corporate Secretary, Rumbidzayi Angeline Jakanani said in a statement on the local bourse.
“The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to the market day of 5 November 2019 and ex-dividend as from 6 November 2019,” Jakanani said.
The payout is however, marginally leaner to that the company issued in April this year for the previous financial year.
The bank issued ZWL 1.24 cents per share then as compared to the latest ZWL 1.06 cents.
The group had strong performances from its various divisions particularly the rent income from investment properties segment and its insurance services.
“The CBZ group remains financially and technically well prepared and positioned to pursue current and emerging business opportunities, while at the same time managing the attendant business risks and threats.” Group Chairman, Noah Matimba said.
