PBC pays shareholders GHS 8.159m as dividend

 
Board Chairman of PBC handing over the cheque to officials of NTHC

The country’s largest buyer of cocoa beans, Produce Buying Company (PBC), has paid GHS 8.159 million to its shareholders as dividend for the 2010/11 financial year.

Out of the amount, government, the majority shareholder would receive GHS 3.706million, while Social Security and National Insurance Trust (SSNIT) and other institutional shareholders would receive GHS 3.164million and GHS 1.289 respectively.

“This is in pursuance of our corporate objective of ensuring equitable return on investment to our shareholders,” said Dr. John Frank Abu, PBC’s Board Chairman during a ceremony to present the cheque amount to NTHC, the company’s registrars for disbursement to shareholders.

“We hope that this enviable feat chalked by the company will spur the board, management and staff to continue to put their best for the continuous growth of the company in the years ahead,” he said.

In March this year, the Board of Directors proposed a dividend of GhS 0.0173 per share during the company’s emergency Annual General Meeting (AGM) - constituting 96.6 per cent above the previous year.

PBC, which is number one on Ghana’s Club 100 list recorded an unprecedented high profit after tax of GH¢27.655million for 2010/11 financial year as against GH¢14.112million of the previous year.