Yaoundé - 09 December 2023 -

Safacam distributed nearly CFA500mln in dividends in 2022

Safacam distributed nearly CFA500mln in dividends in 2022
  • Comments   -   Tuesday, 31 October 2023 17:45

(Business in Cameroon) - The African Agricultural Forestry Company of Cameroon (Safacam), which specializes in palm oil and rubber production and sales, distributed an estimated CFA488.5 million in dividends to its shareholders on the regional stock market BVMAC for FY2022.

Bvmac confirmed that these dividends were disbursed on July 24, 2023, at a rate of CFA1966.9 per share to stockholders holding 20% of the company’s capital. Official figures show Safacam's net income for 2022 reached CFA2.7 billion, reflecting an 11% increase from the previous year. This growth was attributed to a 4% rise in rubber production and a 15% surge in sales within this segment.

Apart from the dividends distributed to stock market shareholders, unlisted shareholders domiciled in Cameroon and abroad (excluding France) receive CFA1845.35 (IRCM 16.6%) per share, compared with CFA1,878.5 (IRCM 15%) for shareholders domiciled in France and CFA1,480.7 (IRCM 33%) for shareholders domiciled in a country considered a tax haven. The Bolloré group, which has a majority shareholding on the Board of Directors (68.84%), received CFA1.99 billion, compared with CFA265.8 million for the State of Cameroon.

Safacam is one of the first companies to be listed on the Central African Stock Exchange, with an estimated market capitalization of CFA30.4 billion by December 31, 2022.

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