In Summary
About 1,500 shareholders attended the meeting which also
appointed new members into the board of directors, the firm said in a statement
yesterday.
Dar es Salaam. Shareholders of Vodacom Tanzania have
approved Sh26 billion in dividends as they held the first annual general
meeting since the listing of the telecommunication company.
About 1,500 shareholders attended the meeting which also
appointed new members into the board of directors, the firm said in a statement
yesterday.
Vodacom was listed on the Dar es Salaam Stock Exchange (DSE)
on August 15, this year, after an initial public offering (IPO) which brought
in some 40,000 new shareholders and raised Sh476 billion.
Vodacom’s board chairman Ali Mufuruki said the board of
directors had recommended a dividend of Sh12.74 per ordinary share with effect
from early November, this year.
The decision, whose goal was to build investor confidence at
the bourse, came after the company expressed confidence about its stability.
The firm registered a profit of Sh47.55 billion in the year ended March 31,
2017 compared to its projection of Sh47.28 billion.
“Our business is strong and we are sharing our earnings so that
each shareholder can benefit,” noted Mr Mufuruki. Vodacom Tanzania managing
director Ian Ferrao assured shareholders of the shares’ safety. “Shareholders
ought not to worry at all.
Your shares are safe and the company is doing well
in the market,” noted Mr Ferrao.
Mr Ferrao also congratulated those who were appointed and
vowed to cooperate with them to ensure that the company’s shares benefited all
shareholders.
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