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CBZ Fetes Shareholders With ZWL$ 1.5 Billion Dividend Windfall

The CBZ Holdings (CBZH) board will pay a final dividend of ZWL 287.37 cents per share to its shareholders, amounting to ZWL$ 1.5 billion for the year December 2020.

A separate dividend announcement with entitlement dates will be published soon, said Group chairman, Marc Holtzman.

“The Board has proposed the declaration of a final dividend of ZWL$1 500 000 000or 287.37 cents per share. This declaration brings the total dividend declaration to ZWL$1 850 000 000 representing a growth of 1 373 percent on the prior year declaration,” said Holtzman.

The regulatory authorities’ decision to allow local use of foreign currencies enhanced the Group’s ability to better respond to the evolving demands in the market, including through developing customer-centric products and preserving shareholder value.

“The CBZ Group continued to leverage on its strong capital and balance sheet positions, deep understanding of the local markets, extensive investment in digital platforms and a culture of innovation to provide much-needed support which was greatly appreciated by our employees, clients and other stakeholders,” he said.

On the capital markets, the Group’s share price outperformed the overall market after it rose by 12,093 percent to end the year at ZW8500 cents.

“The ZSE benchmark index rose by 1,726 percent growth. CBZH resultantly ended the year as the largest counter on the Zimbabwe Stock Exchange with a market capitalization of ZW$58.4 billion. The graph below highlights the movements in the CBZH share price and the benchmark industrial index from December 2019 to December 2020,” said Holtzman.

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