- The Cahora Bassa (HCB) hydroelectric scheme will distribute dividends this year of 11 metical cents a share, 73.6% more than distributed in 2020.
- The announcement was made during a presentation of the state-owned company’s accounts for the last year yesterday, approved at a general meeting last Friday.
“In absolute terms, HCB will pay shareholders a total of more than 2.9 billion meticais [€42.2 million] in dividends, including the more than 17,000 new shareholders that joined the shareholder structure with the placement of 4% of the company’s shares through a Public Offering [IPO], in 2019,” it said.
The company recorded an operating result of 11.83 billion meticais (€170 million) compared to the 9.98 billion meticais (€143 million) in2019, representing a growth in the order of 18.5%, and a net result of 9.82 billion meticais (€141 million), 62% higher than the previous year – in line with the data disclosed by Lusa a fortnight ago. Read more
Related news: Demand for Cahora Bassa shares oversubscribed
Key facility stats:
- Area: 2900 km2
- Max length: 270 km
- Maximum width: 30 km
- Capacity: 52 km2
- Foundation thickness: 21.5 m
- Maximum discharge capacity: 14.000 m3/s
HCB supplies electricity to Mozambique, South Africa and Zimbabwe.
Author: Bryan Groenendaal