Africa-Press – Zimbabwe. PROPERTY developer, Mashonaland Holdings Limited (Mashonaland) has declared a final dividend of US$230 000 for its financial year ended December 31, 2024, despite a reduction in profit after tax (PAT).
In its financial report under review, the firm posted a 9% decrease in PAT to US$3,72 million, from the prior year, owing to a lower fair value gain on properties.
Despite this, the company bolstered its investment properties portfolio by US$10,9 million last year, raising the total valuation of these properties to US$91,6 million.
The growth in the asset base was due to property capital gains of US$742 907 and investments of US$ 10,1 million which were made into the firm’s property development projects during the year.
“Notice is hereby given that the Board of Directors of Mashonaland Holdings Limited declared a final dividend of US$230 000 amounting to 0,0136 U.S. cents per share in respect of the financial year ended 31 December 2024 and payable in respect of 1 687 584 009 ordinary shares in issue,” Mashonaland Holdings said in a statement on Thursday.
“The dividend is payable to shareholders registered in the books of the company at the close of business on 23 May 2025. The last day to trade cum-dividend is 21 May 2025 and the dividend ex-date is 22 May 2025. The dividend will be paid to shareholders on or about the 30th of May 2025.”
The firm then instructed shareholders to submit their foreign currency banking details to the firm’s transfer secretary, ZB Transfer Secretaries.
In its outlook, Mashonaland revealed that the group remained focussed on pursuing its strategic growth plans while continuously improving efficiencies and customer service delivery.
The group’s major property developments include the Pomona Commercial Centre Development Project, Milton Park Day Hospital, and Chiyedza House SME Centre.
Mashonaland Holdings’ total assets grew to US$94,9 million during the period under review, up from US$88,63 million in 2023, following the valuation of its investment property portfolio.
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