Indo Bank declares K80m dividends
Published On March 24, 2022 » 1326 Views» By Times Reporter » Business, Stories
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•INDO Zambia Bank board chairperson Michael Gondwe (centre) and Industrial Development Corporation (IDC) chief investment officer Muchindu Kasongola (second right) display a K32 million dummy cheque as dividend to IDC. Picture by EMILY KUWEMA

By MAIMBOLWA MULIKELELA-
INDO Zambia Bank (IZB) will payout dividends worth K80 million to its shareholders of which K32 million has been declared to the Industrial Development Corporation (IDC).
In the financial year 2021, dividend payment increased to K80 million from K75 million the previous year.
While the rise in dividends was modest in comparison to profits after tax, it illustrates the shareholders alignment with the banks objective of retaining earnings to strengthen balance sheets resilience and provide possibilities for improved capability to do business.

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