Zimre Properties Declare $206k Dividend
Despite recording a 7% decline in total revenue for the year ended June 2017, Zimre properties has proceeded to declare a US$206 000 dividend which the company is paying at US$0.012 per share.
Group Secretary, Nyasha Zhou noted that the dividend is payable in full to the company’s shareholders registered at the close of business on the 6th of October 2017.
“Zimre properties investments Board of Directors have recommended an interim dividend of $206.000 (0.0012 cents per share) for the half year ended June 2017 in respect of all the ordinary shares of the company.
“The dividend is payable in full to all the shareholders registered in the books of the company at the close of business on 6 October 2017.
“The shares of the company will be traded cum dividend on the Zimbabwe Stock Exchange up to the market day of 3 October 2017 and ex-dividend as from 4 October,” said Zhou.
According to Group Chairperson, Jean Maguranyanga, administration costs for the period under review decreased by 23% from US$1,34 million in 2016 to US$1.03 million.
“Total administration costs decreased by 23% compared to the same period last year to the same period to $1.03 million from $1.34 million in response to cost control measures implemented.
“Operating profit for the half year marginally grew by 9 % to US$0.47 million compared to the US$0.43 million achieved in the prior year,” said Maguranyanga.
Zimre Property Investments Limited operates as a real estate investment company in Zimbabwe. The company engages in the real estate and property management, as well as valuation and development services.
It sells residential, commercial, and industrial properties and undertakes property valuations on various land and buildings comprising industrial, residential, commercial, and agricultural properties for market appraisals, insurance purposes, balance sheet, compulsory acquisitions and compensation purposes, local taxation/rating valuations, and project viability analysis and appraisal, as well as undertakes building condition surveys and dilapidation reports.