Econet Wireless Zimbabwe, the country’s largest telecommunications provider, has announced an interim dividend of 0.73 US cents per share for the financial year ending February 28, 2025.
Shareholders must be on the company’s register by the close of business on March 18, 2025, to qualify for the dividend.
Last year, Econet declared an interim dividend of US$15 million, translating to 0.55 US cents per share. The previous year’s payout was made on April 3, 2024, to shareholders registered by March 28, 2024.
The company’s decision to distribute dividends reflects its strong operational performance and positive cash flow. Econet remains optimistic about its future growth and financial stability.
Dividend payments to international shareholders will require exchange control clearance and adherence to foreign remittance regulations. Additionally, Econet will offer an EcoCash payment option for dividend disbursement.
This follows a consistent trend for the telecom giant. In the quarter ending November 30, 2024, Econet declared an interim dividend of 0.36 cents per share, with December 17, 2024, as the last trading date for eligibility.
Shareholders who held shares by December 20, 2024, were entitled to the payout. Similar interim dividends of 0.41 US cents and 0.26 US cents per share were also issued for the half-year period.
In its half-year financial report, Econet highlighted that synergies between its mobile network and fintech divisions had positioned the company for accelerated growth and diversification.
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The firm remains committed to leveraging emerging technologies to enhance its services, focussing on network modernisation and expanding its 5G coverage.
“The group remains focused on enhancing service offerings through new technologies. Network modernisation and an expanded 5G footprint will allow us to deliver faster and more reliable connectivity.
This will support AI-driven tools, improve customer interactions through intelligent chatbots, and optimise network performance with real-time analytics,” the company stated.
During the first half of the financial year, data and voice usage surged by 56% and 36%, respectively, compared to the same period the previous year, driven by ongoing network upgrades.
The increasing demand for data contributed 47% to total revenue, up from 38% in the previous year, while voice revenue declined from 49% to 41% as users shifted to data-driven services.
Capital investment in network infrastructure modernisation accounted for 26% of revenue, a significant increase from the 10% allocation in the prior period.
Econet emphasised the importance of continuous investment in network expansion and upgrades to meet evolving customer needs, maintain service quality, and remain competitive in the market.
