Mash Holdings board OKs final dividend of ZWL1.34 cents per share

Author Name
Respect Gwenzi
Author
Stock Market 10 months ago

HARARE – ZSE-listed property concern Mashonaland Holdings said its board approved the payment of a final dividend of ZWL1.34 cents per share on 1,859,073,947 ordinary shares in issue for the financial year ended 30 September 2020.

In a statement released through the ZSE, the company said the dividend will be paid to shareholders on or about the 15th of January 2021.

“The dividend is payable to shareholders registered in the books of the company at the close of business on 8 January 2021. The last day to trade cum-dividend is 5 January 2021 and the dividend ex-date is 6 January 2021,” the Company said.

The company realised a 30% increase in revenue over the period from ZWL133 million recorded in 2019 to ZWL173 million while operating profit increased by 7%. Occupancy levels improved by 2.3 percentage points, a rather subdued growth in light of the COVID-19impact on business operations.

The repurposing of Charter House into a boutique hotel have been delayed as a result of the pandemic but the company remains focused on diversifying and optimising the performance of their portfolio as well as digitalising with an aim of improving operational efficiency going into 2021.

Mashonaland Holdings is a property investment and development company in Zimbabwe, providing solutions to the retail, commercial and industrial sector. The Office/Retail division acquires, develops and leases warehouse and factories and the Pure Retail acquires, develops and leases retail outlets; with other divisions involved in acquiring, letting and managing residential and specialised property as well as undeveloped land.

The company owns an in-house management division responsible for letting and maintaining privately-owned properties; and a property research and development division which identifies potential property investments and development opportunities. A financial division maintains company accounts according to regulatory accounting standards, invests funds in approved instruments and acquires properties for shareholder investments.

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