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HCB Announces the Payment of Dividends to Shareholders

HCB Announces the Payment of Dividends to Shareholders

Hidroeléctrica de Cahora Bassa (HCB) will proceed, next June, to the payment of about 150 million meticais in dividends to the shareholders of series B, among them citizens and institutions that entered the company during the public offer for sale of shares (IPO) held in 2019.

According to the company, these are dividends referring to the economic year 2020, approved in the Ordinary General Assembly held last month of this year, whose gross value is 0.111 meticais per share, which represents an increase of 73.6% compared to the dividends paid in 2020.

According to a note from the company, the payment of dividends in 2021 results from the approval of the application of results in the amount of 9.8 billion Meticais, of which 40% were allocated to free reserves, 30% to reserves of profits to be realized and 30% to dividends.

Last month, during the presentation of the hydroelectric plant’s accounts, the Chairman of the Board of Directors, Boavida Muhambe, revealed that in absolute terms, the firm will pay shareholders a total of 2,947.2 million Meticals in dividends, extending to the more than 17,000 new ones that joined the shareholder structure with the placement of 4% of the company’s shares through a Public Offering [IPO] in 2019.

According to the report of accounts for last year, released in April, indicates that the company recorded an operating result of 11 835.3 million meticais against the 9 988.1 million meticais of 2019, representing a growth in the order of 18.5%, and a net result of 9 824.1 million meticais, in 62% higher than the previous year.

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