TANZANIA Portland Cement Company Limited
(TPCC) Board Chairman Alfonso Rodriguez, speaks to shareholders' meeting
in Dar es Salaam yesterday. From left is Managing Director Alfonso
Velez, Board Director Oswald Urassa and Company Secretary Brian
Kangetta. (Photo by Mohamed Mambo)
The amount announced for last year was, however, down from a full dividend in 2015 which was 55.06bn/- or 306/- per share.
TPCC trades as Twiga cement at Dar es Salaam Stock Exchange. Its share closed at 2,000/- yesterday.
TPCC Board Chairman Mr Alfonso Rodriguez
said yesterday in Dar es Salaam that the proposed dividend include two
interim amounts of 21.59 bn/- or 120/- per share and 16.19bn/- or 90 per
share paid in October last year and February this year respectively.
He was speaking at the 25th
shareholders’ Annual General Meeting while presenting the company’s
report for the year ended December 31, 2016 and promised to build the
investors value through its strategic investments.
“The Board remains focused on building
shareholder value and we are confident that by following our strategy,
driving efficiencies and managing costs carefully we will achieve this,”
Mr Rodriguez said.
He said that the directors made the
proposal by taking into account the financial situation of the company
and its future needs of implementing replacement and improvement
projects. Mr Rodriguez, however, said that despite of the complex
environment his company achieved record sales volumes last year and
reached an operating profit of 53.8bn/- .
“The good performance was a result of
high production efficiency, implementation of new commercial policies
and enhancement of product portfolio,” he said.
He added that the total revenue
decreased by 10bn/- compared to previous years due to pressure on sale
prices but the company was able to bank on brand recognition and quality
to maintain healthy contribution margins.
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