In 2024, ZCCM Investment Holdings Plc (ZCCM-IH) held its Annual General Meeting (AGM) on Friday, June 28th. At this meeting, shareholders endorsed a K243 million dividend for the 2023 financial year. Notably, K187 million of this sum will go to the Government of the Republic of Zambia, of this amount, K146 million will be allocated to the Industrial Development Corporation and K42 million to the Ministry of Finance and National Planning. 

The dividend approval aligns with a notable rise in profits for the 2023 financial year, reaching K4.84 billion, a 14% surge from the previous year’s K4.26 billion. This growth was primarily driven by the K1.2 billion royalty income from Kansanshi Mining Plc and enhanced performances across ZCCM Investment Holdings Plc’s portfolio of investee companies in 2023.

The Group saw a 20% increase in total assets, reaching K58.46 billion from K48.92 billion, driven by higher valuations of investments in associates and other current assets. However, the Group also faced a 24% rise in losses, totaling K4.7 billion, largely attributed to the underperformance of Mopani Copper Mines.

The dividend declaration for 2023 signifies ZCCM’s ninth consecutive year of dividends, bringing the total payouts to shareholders to over K1.6 billion in the past nine years.