Zim Now Writer
In a move reflecting the country’s recent currency reforms, the Zimbabwe Stock Exchange declared a final dividend for the year ended December 31st, 2023, in a blend of US dollars and Zimbabwe Gold.
“The dividend is a blend between the United States dollar (US$) and Zimbabwe Gold (ZiG), which represents eighty-eight US cents (US$0.88) per share and five point two-five Zimbabwe Gold (ZiG 5.25) per share,” the ZSE announced in a statement released on April 24th, 2024.
The ZSE further clarified that the ZiG amount translates to ZWL13,109.36 based on the exchange rate at the time of the currency changeover on April 5th, 2024.
The dividend will be distributed to all shareholders registered with the ZSE by the close of business on April 26th, 2024, with the payment date set for around April 29th.
The announcement also mentions that any applicable shareholder taxes will be deducted before the final payout.
The ZSE encouraged shareholders to ensure their mailing and banking information is up-to-date with the First Transfer Secretaries (Pvt) Limited to facilitate a smooth dividend payment process.
This blended dividend payout reflects Zimbabwe’s recent economic reforms, which introduced the ZiG alongside the USD as legal tender within the country earlier this month.
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