Hidroeléctrica de Cahora Bassa (HCB) announced on Wednesday (8) that it will proceed with the payment of dividends to its shareholders and holders of company shares, within the scope of the amounts collected during the 2023 financial year.
According to a statement from HCB, the dividend payment is scheduled for May 23, 2024. Shareholders will be able to confirm receipt of the dividends at the banks where their shares are deposited in the ownership registration account.
For Series B shareholders, the dividends are subject to a personal income tax (IRPS) or corporate income tax (IRPC) and any other charges levied by the banks.
The distribution of dividends is based on the deliberations of the Ordinary General Meeting on the proposal to apply the net profits of 13 billion meticais, in which 55% will be allocated to dividends, 35% to investment reserves and 10% to retained earnings.
In this context, HCB stressed that it will pay dividends of around 6.3 billion meticais to the state – the majority shareholder – and around 297 million meticais to the individuals, companies and national institutions that became part of Hidroeléctrica’s shareholder structure after the public offering in 2019.
In this context, HCB stressed that it will pay dividends of around 6.3 billion meticais to the state – the majority shareholder – and around 297 million meticais to the individuals, companies and national institutions that became part of Hidroeléctrica’s shareholder structure after the public offering in 2019.
The payment of dividends to the state will contribute to the implementation of Mozambique’s socio-economic development plans.
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