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Econet declares US$15 million interim dividend  

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By Alois Vinga


LEADING diversified telecommunications group, Econet Wireless has declared a US$15 million interim dividend in a development signifying the group’s commitment to reward investors.

In a recent update, Econet’s group company secretary, Tatenda Ngowe said the lucrative amount is in respect of the just-ended financial year.

“Notice is hereby given that the Board of Directors declared an interim dividend of US$15 million (0.55 US cents per share) for the year ended 29 February 2024 payable in respect of all the qualifying ordinary shares of the Company.

 “The Dividend will be payable on or about 3 April 2024 to all Shareholders of the Company registered as at the close of business on 28 March 2024,” said Ngowe.

 The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to the market day of 25 March 2024 and ex-dividend from 26 March 2024 and disbursements to foreign shareholders are subject to Exchange Control regulations and payment guidelines for foreign remittances.

Applicable shareholders’ tax will be deducted from gross dividends.

Econet shares were 14.82% higher at $2,270.10 with a market cap of $5.88 trillion (US$335.89 million).

Econet was founded by Strive Masiyiwa and started operations in 1998 with mobile phone companies in Botswana and Zimbabwe. Today it operates in 23 African markets through two strategic business units which cover mobile telephony (Econet Wireless), digital technology and platforms (Cassava Technologies) and our corporate social enterprises (Delta Philanthropies and Higherlife Foundation).