Econet Zw declares an interim dividend

Sakhile Phiri (Bulawayo Correspondent)

Listed telecommunications giant, Econet Wireless Zimbabwe Limited, has declared an interim dividend of ZWL$0,40 per share for the year ended 28 February 2021.
In a dividend declaration notice, the company said the dividend will be paid per timelines with the last date to trade cum dividend being 20 April, the share trades ex-dividend being 21 April, the record date will be 23 April and the payment date (on/about) 30 April.

This implies that if one is to purchase the shares before that date he or she would be entitled to the dividend.

“The company has declared an interim dividend of ZWL 40 cents per share for the year ending 28 February 2021,” it said.

Econet also indicated that on the 21st of April, the shares will trade ex-dividend implying the seller of the shares will get to receive the dividend.

The company added: “Withholding tax will be deducted at a rate of 10 percent, where applicable.”
Econet also said that the foreign shareholders’ payments will be subject to exchange control approval and payment guidelines for foreign remittances.

“Foreign shareholders should appoint or make their own arrangements with a local bank of their choice to receive dividend on their behalf and to facilitate remittance to them,” added the company.

For Ecocash, Econet said:
“In an effort to provide an expedient and convenient service, please be advised that we will continue to pay dividends through EcoCash to shareholders who have opted for this payment mode. Non-Corporate Shareholders are encouraged to provide their EcoCash details.”

Meanwhile, Econet Zimbabwe and First Capital Bank have agreed on an online banking deal. First Capital Bank (FCB) has introduced a WhatsApp banking chatbot called Alisa and a billing system giving Econet clients access to internet and mobile banking applications at no cost.

First Capital said: “It uses Artificial Intelligence comprising machine learning and cognitive computing to provide customers with banking services and transaction capabilities. Alisa uses end-to-end encryption plus identification and verification.”

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