NATIONAL Pension Scheme Authority (NAPSA) has received a dividend worth K11.8 million from Marcopolo Tiles Company Limited from its shareholding of 16.4 per cent. This dividend comes within a short period of its investments, adding that it had made a very prudent business decision to invest in Marcopolo Tiles Company Limited.
This is according to NAPSA Director General Yollard Kachinda. Mr Kachinda said the company had demonstrated positive growth in the recent past ending with a net profit of K150 million for 2020 resulting into this dividend. He said this demonstrates the company’s viability of its investment, stating that Marcopolo had positively contributed to job creation and growth. “We are aware that the company has so far employed over 700 employees and has continued to bring into the country the much needed Foreign Exchange through the export of its products,” Mr Kachinda said.
He noted that Marcopolo Tiles Limited was the first firm out of South Africa to manufacture and export porcelain and ceramic tiles to the region leading to the reduction of imports from other countries. “With the demonstrated growth, we are certain that the company is headed for greater performance which will ultimately benefit our members who are the actual shareholders,” he said. Speaking earlier, Marcopolo Tiles Company Limited acting chief executive officer Roy Mwamba said the company was pleased to record positive growth last year as evident by the declaration of dividends to one of its shareholder, NAPSA. “We are here to indicate that we have taken care of your investment and the returns are evidence from what we are going to submit today. The harvest is ready and we are here to present it to the investors,” he said. Mr Mwamba noted that globally, the economies had been facing challenges arising from the impact of Covid-19 pandemic, which led to a closure of some companies.
He said his firm had weathered the economic storm and was able to deliver sound profits for its shareholders. Mr Mwamba said they have been implementing a phased approached, with them currently implementing phase three. In the second week of August this year, he said the company would roll-out phase four of its sanitary ware production, making them the first in the country and region to produce such products. “We want to indicate to you our shareholders that we are ready to ensure that we put a tile on every household not only in Zambia but in the region as well,” Mr Mwamba said.