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NMB pays Dividend to Shareholders
Published: 24. May 2008, Dar es Salaam
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On Saturday 24th May 2008, NMB paid dividends to five shareholders from the profit realised in year 2007, the event was graced by Finance and Economic Affairs minister Hon. Mustafa Mkulo who challenged other companies in which the Government holds shares to emulate NMB in declaring and paying dividends to shareholders.
NMB paid Tsh 11 billion in dividends to its shareholders. NMB's CEO Mr. Ben Christiaanse commented that the dividend payment reflected the very good performance of the bank during 2007 and that this was only the third and consecutive year that NMB paid dividend to its shareholders (previous years being Tsh5 billion and Tsh8 billion).
The Government which has 51% shares received Tsh: 5.61 billion whilst Rabobank received Tsh3.839 billion as dividends from last year profit. Exim Bank, Nicol, and TCCIA received Tsh726 million, Tsh638 million and Tsh187 million respectively.
NMB's chairman Mr. Misheck Ngatunga presented the cheque to the Minister of Finance and Economic Affairs, Hon. Mustafa Mkulo. Mr. Ngatunga said that NMB would continue its change process in the coming years and that it wants to be the bank of first choice for the agricultural community of Tanzania.
Hon. Mkulo thanked the NMB chairman and said that "NMB's dividend payment was a manifestation of the Government's success in economic restructuring". He noted that "economic liberalisation has resulted in a robust economy with the Government earnings more revenues in the form of taxes".
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