TWIGA Cement Second Interim Dividend 2017
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CHAIRMAN’S STATEMENT
Tanzania Portland Cement Company (TPCC) recorded revenue of TZS 119bn in the first half of 2017. This is a decrease of 16% compared with the same period in 2016. The decrease in revenue is mainly because of the lower price as a result of increased competition in the market.
Management continues to exercise strict costs control which are represented by decrease in cost of sales of 7% and selling and administrative expenses by 14%.
TPCC continues to defend its market leadership through strong customer relations.
PROSPECTS
The market situation remains challenging but TPCC will continue to work to maintain its market leadership position.
DIVIDEND
Despite drops in result the directors declare an interim dividend of TZS 120 per share (2016:TZS 120 per share) which will be paid on or about 31 October 2017.
The register of the Members will close on 25 September 2017. The lst day of trading cum dividend will be 20 September 2017.
Source: Daily News 31 August 2017
