Mozambique is “an emerging energy power”
Mozambique: HCB to distribute €2M in dividends – Lusa
12:14 CAT | 26 May 2021
File photo: Noticias
Mozambican state company Hidroeléctrica de Cahora Bassa on 14 June will distribute around 150 million meticais (€2 million) in dividends to those who bought shares in the company’s 2019 public offering, it announced in a statement.
“Series B shareholders, namely citizens, companies and institutions” will be entitled to dividends for the 2020 financial year in the amount of 0.111 meticais per share (about 0.001 of a euro), “which represents an increase of 73.6% concerning the dividends paid in 2020,” HCB noted.
The distribution results from applying the results obtained by the company of 9.8 billion meticais in which 40% were allocated to free reserves, 30% to reserves of profits to be realised and 30% for dividends.
Located on the Zambezi River, in the Tete province, central Mozambique, the Cahora Bassa dam supplies South Africa and southern Mozambique with an annual production that in 2020 reached 15,350 gigawatt-hours (GWh), 4.7% higher than in 2019.
The company has an ongoing modernisation plan that provides for investments in the dam, generation plant, Songo and Matambo substations, and power transmission lines to increase technical and operational reliability.
According to the latest bulletin, the Mozambican state holds 85% of HCB’s shares, 7.5% belong to the Portuguese national energy grid (REN), and 4% are held by national investors. The remaining 3.5% are held by HCB (treasury shares).
Source: Lusa
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