Business News of 2013-12-18

GHACEM presents GH¢6.1m dividend to govt

Ghacem Limited has presented a check for GH¢3.6 million, representing final dividend payment on its 2013 accounts to the government.

This brings the total dividend paid by GHACEM on the 2013 accounts to GH¢6.1 million.

The company had earlier presented an interim dividend of GH¢2.5 million.

The dividend, which was declared at the company’s annual general meeting, represents the government’s five per cent shares in GHACEM.

Dr George Dawson-Ahmoah, the Strategy and Corporate Affairs Director of Ghacem, presented the cheque at a short ceremony at the Finance ministry, which was represented by a deputy minister, Mr Cassiel Ato Forson.

In his remarks, Dr Dawson-Ahmoah thanked the government for its support over the years and expressed the resolve of the board and the management of GHACEM to remain committed to adding value to its products, despite the influx of other cement manufacturing industries.

“GHACEM is committed to using local raw materials in the production of cement and although the materials are scarce, we have been able to constitute close to about 25 per cent of it, which is remarkable, considering the employment creation for the local people,” he said.

GHACEM, he said, would continue to heed to its tax obligations and also to maintain its quest to assist the government to develop the country through its corporate social responsibility programmes targeted at deprived areas of the economy.

Receiving the cheque on behalf of the government, Mr Forson commended GHACEM for honouring its obligation to the state, as well as the consistency and steady increase in dividend payment to its shareholders, including the government, over the past three years.

“Traditionally, companies declare and pay dividends to their shareholders well after the end of the financial year. GHACEM has, however, broken that tradition in a very positive way, as shown in the manner in which it honours such obligation,” he added.