(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."