Yaoundé - 07 August 2020 -

Socapalm to distribute CFAF11.27 bln of dividends to shareholders by Sep 30

Socapalm to distribute CFAF11.27 bln of dividends to shareholders by Sep 30
  • Comments   -   Monday, 15 June 2020 09:27

(Business in Cameroon) - At the end of the 2019 financial year, Socapalm (Société camerounaise de palmeraies), a subsidiary of the Luxembourg company Socfin, posted a distributable profit of CFAF20.63 billion. It is constituted of CFAF11.02 billion of legal reserve and CFAF9.61 billion of retained earnings from previous years.  

However, Socapalm indicates that the total profit to be distributed to shareholders is CFAF11.27 billion, i.e. CFAF2,465 per share before tax on income from movable capital (IRCM). This profit will be distributed by September 30, 2020.  

In the framework of the dematerialized shares, the dividend per share for shareholders domiciled in Cameroon and abroad (France excluded) before the IRCM will amount to CFAF2,058.28. Those domiciled in France will receive a dividend of CFAF2,095.25 per share.

Socapalm’s performances were outstanding in 2019. During that financial year, the company recorded a net profit of CFAF12.24 billion. Compared with the CFAF11.39 billion it recorded in 2018, this represents an increase of nearly CFAF850 million. This increase, according to Socfin’s subsidiary, is due to "the combination of controlled production costs, improved agricultural and industrial techniques, as well as favourable climatic factors."

Sylvain Andzongo

On July 30, 2020, Africa Food Manufacture (AFM), which produces Broli-branded pasta, signed an investment agreement with Cameroon’s investment promotion...
The Cameroonian National Hydrocarbon Company (SNH) estimates the value of oil data currently stored in its Mbanga-Bakoko (Douala) based Petroleum...
Some days ago, when they received their July 2020 salary, some physicians and health personnel operating for Cameroon noticed that their usual salaries...
“Ibom Air currently deploys a fleet of five 90-seat Bombardier CRJ900 regional jets,” an article published on Forbes on August 4, informed. According to...

Mags frontpage

Business in Cameroon n90: June 2020

Top 100 economic actors in Cameroon

Colonel Roger Kuitche: “Military strategy is an important tool that will beneft businesses and public administrations”

Investir au Cameroun n100 Juillet-Août 2020

Le Top 100 des acteurs économiques du Camerouns

Colonel Roger Kuitche : « la stratégie militaire appliquée aux entreprises et aux administrations est un outil à exploiter »