We have extracted the financial summary from the abridged report of Tanzania Cigarette Company Limited listed on the Dar es Salaam Stock Exchange under the share code TCC.tz. Tanzania Cigarette Company is a manufacturer,distributor and exporter of cigarette brands such as Camel, Winston and Sweet Menthol Safari Club to Mozambique, Zambia and the D.R.C
The following is an excerpt from the abridged report;
Overall volume grew 5% on prior year driven by robust volume growth in the key export market of the Democratic Republic of Congo (DRC). Coupled with pricing in the domestic market and improved product mix, gross turnover increased by 4.3% to TZS 506.7 billion in the same period. This top line growth and operational cost efficiencies have resulted in a profit after tax of TZS 47.9 billion, up 5.7% on prior year.
In view of the strong results, short to medium term operational and investment needs to sustain growth, the Directors have recommended a final gross dividend of TZS 250 per share (2017: TZS 200 per share). When added to the interim gross dividend of TZS 200 per share paid out in November 2018, the total dividend for the year ended December 31, 2018 is TZS 450 per share (2017: TZS 400 per share).
The final gross dividend will be paid on or about May 07,2019 subject to shareholders’ approval at the Annual General Meeting on April 3, 2019. Shares