Companies that declared US dollar dividends on the Zimbabwe Stock Exchange in 2022

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  • It is unique that these companies declared US dollar dividends because it shows that they are committed to helping the Zimbabwean economy
  • The Zimbabwe Stock Exchange (ZSE) had a positive performance in the year 2022.
  • The All Share Index (ALSI) rose by 5.4 per cent and the Industrial Index (INDI) rose by 8.3 per cent.

Companies that have declared US dollar dividends on the Zimbabwe Stock Exchange include Delta Corporation, Econet Wireless Zimbabwe, Old Mutual, Seedco, Zimre Holdings, and ZB Financial Holdings.

The Zimbabwe Stock Exchange (ZSE) had a positive performance in the year 2022. The All Share Index (ALSI) rose by 5.4 per cent, the Industrial Index (INDI) rose by 8.3 per cent. The Mining Index (MINI) rose by 16.3 per cent, and the Top 10 Index (TOPI) rose by 8.9 per cent. This was a significant improvement from the previous year, where the All Share Index (ALSI) fell by 4.6 per cent, the Industrial Index (INDI) fell by 4.1 per cent, the Mining Index (MINI) fell by 8.3 per cent, and the Top 10 Index (TOPI) fell by 7.3 per cent.

The Zimbabwe Stock Exchange (ZSE) had a positive performance in the year 2022 compared to prior year. [Photo/ African X’changes]
It is unique that these companies declared US dollar dividends because it shows that they are committed to helping the Zimbabwean economy despite the country’s difficult economic situation. Declaring US dollar dividends demonstrates the trust that investors have in these companies, as well as their willingness to invest in the Zimbabwean economy. Additionally, declaring US dollar dividends helps to increase the value of the Zimbabwean dollar and make it more stable, which can benefit the entire nation.

Retail investors often benefit from U.S. dollar dividends declared by companies listed on the Zimbabwe Stock Exchange. By investing in these companies, retail investors can gain access to a steady stream of income in U.S. dollars, which can help them to shield their investments from inflation and currency fluctuations. Additionally, these dividends can often be reinvested, allowing investors to compound their returns.

OK Zimbabwe

On December 20, 2022, the Board of Directors of the Group declared an interim dividend of 0.13 US cents per share, to be paid out of the profits for the half-year ended September 30, 2022. The dividend will be payable on or around January 20, 2023 to shareholders registered in the Group’s records as of January 6, 2023. The Group’s profit before tax for the half-year was ZWL 3.5 billion in historic cost terms, and the announcement of the dividend was made on December 21, 2022. Shareholders were encouraged to update their payment details with the Group’s offices or Transfer Secretaries. The dividend payment will be made according to the following timetable: announcement date (December 21, 2022), last date to trade cum-dividend (January 3, 2023), share trade ex-dividend (January 4, 2023), last record date (January 6, 2023), and payment date (January 20, 2023).

Willdale Limited

On December 6, 2022, the directors of the Company resolved to pay a dividend of 0.0056 US cents per share in respect of the financial year ending September 30, 2022. The dividend will be paid in US dollars on or around January 22, 2023 to shareholders registered in the books of the Company as of January 13, 2023. The shares of the Company will be traded with dividend up to the market day on January 10, 2023 and ex-dividend as from January 11, 2023. Shareholders are advised to lodge their up to date banking details with First Transfer Secretaries in Harare.

Hippo Valley Estates

On December 6, 2022, the Board declared an interim dividend of 0.3 US cents per share for the six months ended September 30, 2022, payable in respect of all of the ordinary shares of the Company. The dividend will be paid in full to all shareholders registered at the close of business on December 30, 2022, and will be paid on or around January 6, 2023 with applicable tax deductions. The shares of the Company will be traded with dividend up to the close of business on December 27, 2022 and ex-dividend as from December 28, 2022.

National Foods Holdings

On October 26, 2022, the Board declared a final dividend of US$5.95 cents per share (2021: ZW$296.49 cents per share) in respect of all ordinary shares of the Company, bringing the total dividend to US$5.95 cents per share and ZW$1 103 cents per share (2021: ZW$1 099.76 cents per share). The dividend was in respect of the financial year ended June 30, 2022 and was paid to all shareholders registered at the close of business on November 11, 2022. The payment of the dividend will took place on or around November 25, 2022, and the shares of the Company were traded with dividend up to the market day of November 8, 2022, and ex-dividend as from November 9, 2022.

Innscor Africa

On October 28, 2022, the Board declared a final dividend of US$1.56 cents per share in respect of all ordinary shares of the Company. This dividend was in respect of the financial year ended June 30, 2022, and was paid to all shareholders registered at the close of business on November 11, 2022. The payment of the dividend took place on or around November 25, 2022, and the shares of the Company were traded with dividend up to the close of business on November 8, 2022 and ex-dividend as from November 9, 2022. Additionally, the Board declared a final dividend of US$453 588 to Innscor Africa Employee Share Trust (Private) Limited for non-voting class “A” ordinary shares.

Simbisa Brands

On September 26, 2022, the Board resolved to declare a final dividend of US$0.58 cents per share. Additionally, the Board approved a dividend of US$163,034 to the Simbisa Employee Share Trust. The dividend was paid in United States dollars on or around October 19, 2022 to shareholders registered in the books of the Company close of business on October 14, 2022. The shares of the Company were traded with dividend up to the market day of October 11, 2022, and ex-dividend as from October 12, 2022.

Read: Simbisa Brands, Hwange Colliery included on ZSE index constituents

Zimre holdings

On September 13, 2022, the ZHL Board declared an interim dividend of US$250,000, amounting to US$0.01374972 cents per share on 1,818,218,786 ordinary shares in issue, in respect of the period from January 1, 2022 to June 30, 2022. The dividend was paid to shareholders registered in the books of the company at the close of business on September 30, 2022. The last day to trade cum-dividend was September 27, 2022 and the ex-dividend date is September 28, 2022. The dividend will be paid to shareholders on or around October 6, 2022.

Several companies listed on the Zimbabwe Stock Exchange (ZSE) have declared dividends in the past year. These include Old Mutual Limited, Innscor Africa Limited, Econet Wireless Zimbabwe Limited, SeedCo International Limited, Nampak Zimbabwe Limited, and Delta Corporation Limited. All of these companies have declared dividend payments for their shareholders in the past year, ranging from US$0.01374972 cents per share to US$453 588 to Innscor Africa Employee Share Trust (Private) Limited. These dividend payments demonstrate the companies’ commitment to their shareholders and the overall success of their businesses.

Read: Victoria Falls Stock Exchange gains with Axia Corporation listing

Albert is a Chemical Technologist and Author. He is passionate about mining, stock market investing, Fintech and Edutech.

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