DSE owners approve 145/- dividend per share

DAR ES SALAAM: DAR ES SALAAM Stock Exchange (DSE) shareholders yesterday approved the proposed dividend of 145/- per share for the year ended December 31 last year during the Annual General Meeting (AGM) held yesterday.

DSE board proposed a dividend of 61 per cent of after tax profit which is equivalent to a proposed dividend of 3.45bn/- for the year ended last December up from 2.76bn/- paid in the prior year.

The approved dividend has increased by 25 per cent compared to 116/- per share paid in the preceding year, thanks to the DSE’s robust financial performance registered for the year ending last December.

During the year, DSE Group recorded a profit after-tax of 5.69bn/- until last December from 4.60bn/- registered in the prior year, equivalent to 24 per cent increase.

“The profit registered is due to the increase in the sale of shares and bonds in the market and also the increase in investment income and also data trending sales and various activities such as investment training,” said Mary Mniwasa, DSE Acting Director.

The approved dividend will be cashed on or about August this year. Generally, DSE performed well in the fiscal year ended last December that the stock exchange registered some notable achievements.

During the financial year ended December last year, DSE Group’s total revenue increased by 21 per cent to 12.22bn/- from 10.07bn/- registered in a similar period of the preceding year.

Additionally, total assets of the group grew by 10 per cent to 34.8bn/- compared to 31.5bn/- recorded in the prior year, attributed to the increase in investment in the short term deposits from the funds obtained from operation.

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Total shareholders fund of the group also increased by 10 per cent to 31.07bn/- from 28.18bn/- registered in 2022.

The increase is due to the profit made by the group. Equally, DSE’s Fidelity Fund assets grew by 13 per cent to 3.21bn/- until the end of last December from 2.84bn/- registered in the preceding year. The increase is due to the amount invested in the fixed deposits.

She added: “We expect to add more companies to the market due to the push from the government where you want mining and mobile companies to enter the market. “

The goal is to increase the liquidity in the market because right now we are in the second five-year plan, which last year was the first, where we want to increase the liquidity of the sale and purchase of shares in the market.”