NICOL to approve dividend package this week

NICOL to approve dividend package this week

NICOL Investment is expected to hold its Annual General Meeting on Friday this week to recommend dividends for its shareholders and if endorsed will be paid before the end of the year.

The company Acting Chief Executive Officer, Erasto Ngamilaga said at the AGM, shareholders will get the opportunity to discuss the development achieved by the company since it was listed on the Dar es Salaam Stock Exchange (DSE).

“We would like to encourage our esteemed shareholders to contribute ideas and see how we have been transforming their company.

We have been doing better and started investing in various profitable companies among them in government treasury bonds where we have injected 14bn/-,”

Mr Erasto added that NICOL has continued to strengthen its investment by investing in different profitable companies for buying shares worth 80bn/- saying that is a huge achievement for the company.

He said in the year 2020/21, the company recorded 3.8bn/- profit which was contributed greatly by the efforts made by the management in investment.

“We ask all our shareholders to participate in this crucial meeting so that they can see the improvement achieved and give their views for the future improvement,” he said

He said the value of NICOL share of the company has been doing better and better on the DSE and has increased by 40 per cent from 170/-to 250/-.

“It is our expectations that because of our efforts and the strategies we have in place we intend to raise the value of our shares in the market to reach 1,400/- per share,” he said

Erasto said the company has been contributing to the national income by paying different taxes adding that this year the company has paid a total of 300m/-to the government as tax.

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