ZPI declares $515 000 dividend

HARARE - ZIMRE Property Investment Limited (ZPI) has declared a $515 000 dividend for the full year to December 31, 2018 spurred by a commendable performance during the period under review.

This was after the property firm’s operating profit grew by 100 percent to $1,44 million mainly buoyed by sales of stands from its current and ongoing development projects.

In a statement to shareholders, ZPI said the dividend will be paid to shareholders on or about May 23 this year.

“Notice is hereby given that the board of directors of Zimre Property Investments Limited has recommended as a final dividend of $ 515 000 ($0,030 cents per share) for the year ended December 31, 2017 in respect of respect of all the ordinary shares of the company,” the company’s secretary Nyasha Zhou said.

ZPI in February launched its $13 million upmarket shopping mall in Victoria Falls, setting the stage for the construction of the mega project.

“The dividend is payable in full to all the shareholders registered in the books of the Company at the close of business on 18 May 2018. The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to the market day of 15 May 2018 and ex-dividend as from May 16, 2018,” Zhou said.

Shareholders are requested to submit their banking details to the company’s transfer secretaries, ZB Transfer Secretaries at 21 Natal Road.

The company in March also announced that it housing development project in Bulawayo was expected to be completed by August this year.

The company is involved in the construction and development of Nicoz House at the corner of Fort Street and 8th Avenue, into a student accommodation facility, creating about 190 beds.

It also wanted to develop five blocks of student hostels in Selbourne Park, but the proposal last year was met with resistance from the Bulawayo City Council and residents.

At the Selbourne Park project, ZPI is expected to offer 900 beds. The two projects were valued at close to $10 million.  — The Financial Gazette

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