AfricaPress-Tanzania: NICOL Investment Company Plc has promised to continue providing attractive dividends to its shareholders due to a good and strategic investment plan to profitable projects and business under the current management.
The promise was made at the weekend by Nicol Chairperson of the Board, Dr Gideon Kaunda, when speaking at the 6th annual general meeting held in Dar es Salaam whereby for the first time their meeting was conducted online.
He said the management of the company had done a tremendous job to increase the dividend amount from 6/- for each share given to its members last year up to 10/- for 2020. Dr Kaunda believes that things will continue improving in the coming years because they have invested in profitable companies and industries like Tanzania Breweries (TBL), NMB Bank, the Dar es Salaam Stock Exchange (DSE), Vodacom and in some cement production industries.
He said the Nicol management got all support from Capital Markets and Securities Authority (CMSA) and DSE that always were there to give them advice on how they could address different challenges they faced in their daily operations. According to Dr Kaunda, Nicol has some shareholders from America and Australia.
He thus encouraged more Tanzanians to join the company, promising that it was in good hands and there was a bright future. “Shareholders are confident with this management and give us support and evidence is when we were passing the resolutions.
In every single resolution the votes were over 90 per cent because they trust us,” said Dr Kaunda. He noted that since 2012 they had been providing shares every year even if they faced some challenges.
Nicol Director of Finance Erasto Ngamilaga said the company was on track and promised shareholders that the new management would ensure they invested in profitable projects to enable the company provide good dividends to its shareholders in coming years.
“We will be increasing dividends as we get successes and profit our shareholders and I want them to be proud of their company because it is on track to produce profit and those who don’t have shares I encourage them to come and buy them,” he said.
Some of the agendas discussed and approved by Nicol shareholders during the annual general meeting included those of the past meeting conducted in October last year. They also received, discussed and authorised a directors’ report and financial reports for the year ended December 31, 2019.
