NPTH declares N$300m dividend
By Hilary Mare
NAMIBIA Post and Telecom Holdings Ltd (NPTH) has declared dividends of N$300 million which consist of N$263 million ordinary dividend and N$37 million special dividends.
For the year under review, revenue increased to N$1.1 billion (N$603 million: 2019), total operational expenses reduced to N$127 million (N$193 million: 2019) and net profit was recorded at N$1 billion (N$539 million: 2019).
Revenue was generated from dividends received by the company of N$977 million and property rental generated of N$176 million.
At an annual general meeting (AGM) in Windhoek last week NPTH board chairperson, Sencia Kaizemi-Rukata highlighted that the board was pleased with the output considering the precarious Covid-19 period.
“From the Namibian public enterprises sphere, NPTH is one of a few public entities that observed its intentions to declare and pay dividends to the Government, and NPTH is proud to be associated with other commercial entities who ploughed back into the Government. Especially during these dire economic climates where the Covid-19 pandemic has adversely affected businesses domestically, regionally and globally.
“The NPTH being a commercial public entity is further committed to supporting the President, His Excellency, Dr Hage Geingob as well as the Government of the Republic of Namibia to realise the objectives of Harambee Prosperity Plan 2 as well as the National Development Plans (NDP) and Vision 2030,” Kaizemi-Rukata said further stating that the NPTH group is proud to be at the forefront of driving Namibia forward to be an integral part of knowledge-based societies, extending ICT services to the Namibian nation.
She added that despite the prevailing challenging economic times that the country is facing, it is also worth noting that for the financial year 2019/2020, NPTH received a dividend payment of N$572.2 million from its subsidiaries (MTC and Telecom). These were interim and final dividends of N$569.5 million from MTC and preference shares dividends of N$ 2.7 million from Telecom.
At the AGM, public enterprises minister, Leon Jooste said: “We have seen quick improvement of the quality of governance. We are getting things right. We want to see healthy competition in the group,” he said while welcoming new Board for Nampost and Telecom.
NPTH is a commercially driven and one of the largest property businesses within the country with 123 properties countrywide, of which 99 were acquired through government grants and the remaining 24 were privately acquired.
NPTH is the 100 percent holding company of Telecom Namibia Limited (Telecom), Namibia Post Limited (Nampost), and Mobile Telecommunication Ltd (MTC).
To date, the Group has declared N$2.36 billion dividends to its ultimate shareholder since inception.