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The country’s property market continues to experience low demand for space, with the CBD office sector worst affected, according to Zimbabwe Stock Exchange listed entity First Mutual Properties (FMP).
By Alois Vinga
ZIMBABWE Stock Exchange listed property concern, First Mutual Properties (FMP) has set aside $7.3 million quarterly dividend pay-out indicating the company’s bullish performance despite the obtaining economic challenges.
Several local companies are in dire straits owing to the difficult economic operating environment which has been further weakened by the impact deadly Covid-19.
But this week, FMP group company secretary Sheila Lorimer indicated defiance against the obtaining difficulties through announcing a lucrative dividend pay-out.
“The board resolved that an interim quarterly dividend of $7,398,431 being 59 cents per share be declared from the profits for the quarter ended 30 September 2020.
“The dividend will be payable on or about 05 February 2021 to all shareholders of the Group registered at close of business on 29 January 2021. The shares of the Group will be traded cum-dividend on the Zimbabwe Stock Exchange up to 26 January 2021 and ex-dividend
HARARE – Midcaps outperformed the stock market on Tuesday although trading remained lacklustre with turnover failing to cross the $100 million mark.
Turnover was at $94.16 million in 278 trades. CBZ Holdings and Delta contributed the most to turnover $33.37 million and $32.62 million, respectively. Foreign sales were at $30.46 million with $22.73 million of that coming out of Delta. Foreign buyers were at $13.45 million with Hippo making up the most at $11.18 million.
First Mutual Properties led the session risers as it added 44c to 264c, an increase of 20.00%. Zimre Holdings, which underwent a consolidation as part of a new strategic focus, made a 19.95% rebound to 249.50c as it improved its market capitalisation to $3.82 billion.
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