Nampak declares US$0.20 per share final dividend

Audrey Galawu

NAMPAK board has declared a final dividend of US$0.20 per ordinary share for the year-ended September 30, 2023 payable in respect of all the ordinary shares of Nampak Zimbabwe Limited.

This dividend will be payable in full to all shareholders of the company registered as at the close of business on January 19, 2024.

NAMPAK announced in a cautionary statement that the payment of the dividend will take place on or about January 26, 2024.

“The applicable shareholders’ tax will be deducted from the Gross Dividends.

“The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to the market day of 16 January 2024 and ex-dividend as from 17 January 2024,” reads the statement.

Nampak Group Managing Director, John van Gend, said the overall demand for packaging improved during the year, compared to the previous year.

“The Company benefitted from the volume growth experienced by our customers on the back of increased disposable income of consumers.

“In the year under review, management continued with its focus on cost containment and operational efficiencies, whilst looking for new opportunities to improve both product offerings and quality. We continue to invest in the business where we see opportunity,” he said.

In its results for the year ended September 30, 2023, Nampak reported a total indicative share trading liquidity of ZWL$5.56 billion in the past 12 months as of December 4, 2023 and an average ZWL$463.53 million per month.

The Group achieved sales for the year in inflation-adjusted terms of ZWL$573.78 billion compared to ZWL$394.15 billion in 2022 and a hyper-inflated trading income of ZWL$114.56 billion compared to ZWL$83.47 billion in 2022.

A profit before tax of ZWL$118.32 billion was achieved compared to ZWL$59.37 billion in 2022.

The profit before tax takes into account other material income of ZWL$71.19 billion and a net monetary loss on hyperinflation of ZWL$67.31 billion.

At the close of the financial year, van Gend revealed that Nampak employed 449 permanent employees compared with 467 in the previous year.

“Overall, industrial relations have remained cordial. At NEC level, the wage increases during the year were more frequent, and there continues to be pressure from employees to cushion them against the current hostile economy.

“We are continuously reviewing our manpower structures to ensure they are in line with business requirements. The Group continues with its training programmes aimed at developing and retaining skills across the board,” van Gend added.