Hidroeléctrica de Cahora Bassa (HCB) will proceed, next June, with the payment of around 150 million meticais in dividends to series B shareholders, including citizens and institutions, who joined the company during the public offering of shares (IPO) held in 2019.

According to the company, this is the dividend for the 2020 fiscal year, approved in the Ordinary General Assembly held last month of this year, whose gross value is 0.111 Meticais per share, which represents an increase of 73.6% in relation to the dividend paid in 2020.

According to a note from the company, the payment of dividends for 2021 results from the approval of the application of results in the amount of 9.8 billion Meticais, of which 40% were allocated to free reserves, 30% to reserves of profits to be realized and 30% to dividends.

Last month, during the presentation of the hydroelectric plant's accounts, the chairman of the board of directors, Boavida Muhambe, revealed that in absolute terms, the firm will pay shareholders a total of 2,947.2 million meticais in dividends, extending to the more than 17,000 new ones that have joined the shareholder structure with the placement of 4% of the company's shares through a Public Offering [IPO] in 2019.

According to the accounts report for last year, released in April, it indicates that the company recorded an operating income of 11,835.3 million meticais against 2019's 9,988.1 million meticais, representing growth in the order of 18.5%, and a net income of 9,824.1 million meticais, up 62% over the previous year.