logoBC
Yaoundé - 08 May 2021 -
Finance

Despite a net profit down 15.6% YoY, SAFACAM will distribute over XAF1 bln dividend for 2020 operations

Despite a net profit down 15.6% YoY, SAFACAM will distribute over XAF1 bln dividend for 2020 operations
  • Comments   -   Friday, 30 April 2021 16:21

(Business in Cameroon) - For the financial year ending December 31, 2020, the African Agricultural Forestry Company of Cameroon (SAFACAM) will distribute a little over 1 billion CFAF dividend to its shareholders (XAF806 dividend per share). The information is revealed in the draft net profit allocation report recently published by the BVMAC-listed company.

To distribute such dividends, the rubber and palm oil producer will dig into its reserves because its 2020 net profit is only XAF679 million, down by 15.6% compared with the XAF806.54 million recorded in 2019. According to the company, this decline was due to the impacts of the coronavirus pandemic on operations, in the rubber segment notably.

"2020 was marked by the coronavirus pandemic, which affected our rubber business. Indeed, the strong uncertainties on the evolution of global rubber demand forced us to reduce our production for six months because of the dropping selling prices we observed at the time and also in anticipation of possible sales problems," SAFACAM explains in its 2020 activity report.  It also adds that its oil palm segment was not affected by the coronavirus pandemic.

BRM  

cameroon-banana-exports-dropped-by-22-11-yoy-in-apr-2021-assobacam-s-data
Banana producers operating in Cameroon exported 13,186 tons of the fruit in April 2021, according to the Banana Association of Cameroon (Assobacam)....
tradex-seeks-a-partner-for-the-supply-of-56-000-gas-cylinders
The state-owned oil operator Tradex recently issued an international call for tenders for the supply, within five months, of 56,000 12.5 kg gas...
cameroon-to-install-solar-plants-of-30mw-energy-generation-capacity-in-the-northern-regions-this-year
Cameroon and electric utility ENEO are currently fine-tuning a project to install mobile and modular emergency solar power plants. This was revealed, on...
consumer-price-index-rose-by-0-2-in-douala-in-march-2021-the-ins-reports
In March 2021, in Douala, the consumer price index (CPI) rose by 0.2%, according to the National Institute of Statistics (INS). The figure is slightly...

Mags frontpage


Business in Cameroon n99: April 2021

Outages ENEO’s director-general explains the situation


Cocoa: Time to boost processing


Investir au Cameroun n109: Avril 2021

Délestages Le DG d’Eneo s’explique


Cacao : cap sur la transformation

  1. Most read 7 days
  2. shared 1 month
  3. read 1 month
next
prev