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Mozambique: Cahora Bassa dividends up by 73.6%

The Cahora Bassa (HCB) hydroelectric scheme will distribute dividends this year of 11 metical cents a share, 73.6% more than distributed in 2020, the company announced on Monday.“In absolute terms, HCB will pay shareholders a total of more than 2.9 billion meticais [€42.2 million] in dividends, including the more than 17,000 new shareholders that joined the shareholder structure with the placement of 4% of the company’s shares through a Public Offering [IPO], in 2019,” it said.The announcement was made during a presentation of the state-owned company’s accounts for the last year, approved at a general meeting on Friday.The company recorded an operating result of 11.83 billion meticais (€170 million) compared to the 9.98 billion meticais (€143 million) in2019, representing a growth in the order of 18.5%, and a net result of 9.82 billion meticais (€141 million), 62% higher than the previous year – in line with the data disclosed by Lusa a fortnight ago.“These results are extremely encouraging and give us the conviction that we are on the right track in valuing what the country and shareholders expect from us as managers of this strategic and key enterprise for the national and regional energy matrix,” Boavida Muhambe said.

Source: Further Africa

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