Nicol shareholders set to endorse 10/- per share dividend

17Nov 2020
Joseph Mwendapole
Dar es Salaam
The Guardian
Nicol shareholders set to endorse 10/- per share dividend

SHAREHOLDERS of National Investments Company Plc are expected to hold an online annual general meeting that is expected to endorse 10/- per share dividend on Saturday this week.

Nicol board chairman, Dr Gideon Kaunda speaks to reporters at a past event.

In statement, Nicol said the virtual meeting will be attended by all shareholders who register online through their desk computers, smartphones and tablets plus other electronic gadgets. The statement stated that other issues to be discussed will include endorsing last year’s minutes held in October last year.

“The meeting will receive, discuss and authorize directors’ report and financial reports for the year ended 31 December 2019 and dividend payment for the half year ending 2020,” the statement noted. The virtual AGM will also receive and authorize directors’ payments and sanction auditors’ reports for the year.

“We encourage all shareholders to attend this meeting on Saturday which will be done online if they will have questions to ask management and board of Nicol,” the statement added. Recently, the company succeeded to pay dividend to its shareholders after several years of loss making.

The dividend payment covered three years between 2016 and 2018. Since its establishment in 2012, Nicol which is now under Dr Gideon Kaunda as board Chairman, has never paid any dividend prior to this year.

Under Dr Kaunda Nicol also paid Treasury 1.5bn/- in taxes this year as it eyes sustained profitability in the years to come. Dr Kaunda has vowed to ensure that Nicol realises its founding shareholders’ promise to allow the majority Tanzanians own part of their economy through the company.

“My board and the management will continue working together in the interest of the shareholders but also all Tanzanians whose interests are in the company but also the national economy,” he stated while commending shareholders for their confidence in him after being elected.

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