NICOL Investment Company Plc has endorsed a 20/- dividend per share to its shareholders.
The dividend was approved in Dar es Salaam over the weekend during the company’s shareholders’ Annual General Meeting (AGM), where others from Mwanza, Mbeya and Arusha regions participated virtually.
NICOL Chief Executive Officer, Mr Erasto Ngamilaga said during the meeting the management explained to shareholders the investments that boosted the profit to 3.8bn/-.
“Shareholders were very happy to see how the company is doing better and better and leaders pledged to put proper strategies that will ensure the smooth operations of the company and increase its profit,” he said.
On his side, NICOL Chairperson, Dr Gideon Kaunda, said they have been providing dividends each year and commended the management for investing in profitable projects including treasury bills.
He said NICOL Company Plc has invested 30 per cent of its investment in treasury bills and that’s why its profit has been increasing daily and provides good dividends to its shareholders.
He said NICOL has 30,000 shareholders countrywide and that is why they have decided to do the AGM virtually to enable up-country shareholders to participate fully.
“NICOL would like to see shareholders get good dividends each year and they were very happy to see the increment of dividend. We promise them to do better and better in the future so that they get an attractive dividend,” he said.
One of the shareholders, Mutamwega Mugaywa, commended NICOL management for the job well done to enable the company to provide a dividend to its shareholders.
He said according to the financial audit and management report, the company is on the right track and shareholders expect a bright future.
“Am happy to see that NICOL is in good hands and it is doing better I would like to encourage others to buy NICOL shares because we can see that the company is on a good path,” he said.
