Companhia Moçambicana de Hidrocarbonetos (CMH) announced today that it will distribute 583 meticais per share to shareholders on October 30 as dividends for the 2023 financial year, the state oil company announced today.
This payment refers to gross dividends of more than 3,459 million meticais for the financial year ending June 30, 2023.
CMH's management states that the decision was taken at the company's general meeting, held on October 9, and the payment will be made on that date and gross amount through a financial intermediary.
The oil company has a share capital of 5,934,115 shares, of which 593,411 are listed on the Mozambique Stock Exchange, valued at more than 25.2 million dollars.
CMH is owned by the also state-owned Empresa Nacional de Hidrocarbonetos (ENH), in 70% of the share capital, and by the Instituto de Gestão das Participações do Estado, in 20%, while 10% of the shareholders are Mozambican natural and legal persons.
On October 27, 2022, CMH paid a total of 36.9 million dollars in dividends to shareholders for that financial year.
In the financial statements released by the company for the period from July 1, 2022 to June 30, 2023, CMH's management recognizes a "substantial increase" in profits, caused by "rising oil prices" and "careful, results-oriented management".
In addition, the chairman of the board justifies the growth in profits, taking into account the 37.2 million dollars in the financial year 2021 to 2022, with the "slight increase in production" in the country with the new gas boreholes of Pande28, Pande29, Pande30 and Pande31, as well as the "lower operating cost compared to the budget assumptions". (Lusa/Sapo)
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