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GHACEM presents dividend to Government
 
Posted on: 04-Jun-2013        
 
 
 
The Board and Management of the Ghana Cement Company Limited (Ghacem) has presented a check of GH˘2.5million (Two Million, Five hundred thousand Ghana cedis), representing final dividend payment on its 2012 accounts, to government. This brings the total dividend paid by GHACEM on the 2012 accounts to GH˘4.4million.

Presenting the cheque at a short ceremony, the Director in charge of Strategy and Corporate Affairs of Ghacem, Dr. George Dawson Ahmoah, expressed the Company’s gratitude to Government for its support over the years. “We wish to thank the Government of Ghana for its advisory role played over the years.”’

Dr. Ahmoah stated that despite the competition in the industry as a result of the influx of other cement manufacturing companies, GHACEM is committed to adding value to its product. He however, noted that the recent power outages have impacted negatively on the company’s production since the company depends heavily on electricity for its production. He therefore commended Government for the effort to arrest the situation.

Dr. Ahmoah announced that GHACEM will be increasing its production capacity from 3.4 million tonnes of cement to 4.4 million tonnes by end of 2014.

Receiving the cheque on behalf of Government, Hon. Kweku Ricketts-Hagan, Deputy Minister for Finance, commended GHACEM for honoring their obligation to the state as well as the consistency and steady increase in dividends payment to its shareholders including Government over the past two (2) years.

He noted that, dividend paid by GHACEM on the 2012 account increased by 140.3% compared to what was paid in 2012 in respect to 2011 accounts.

Hon. Hagan noted Ghana’s success in the construction industry and described the increment in production by GHACEM as welcoming news, “Ghana is currently enjoying a boom in the construction industry and it is good news to hear GHACEM announce that it will be increasing its producing capacity from the 3.4million tonnes of cement to 4.4 million tonnes by the end of 2014.”

Hon. Hagan urged the Board, Management and Staff of GHACEM to strive hard to be strong, competitive and profitable as they now have new competitors in the industry.

Present at the presentation were Hon. Cassiel Ato Forson, Deputy Minister of Finance, Major M.S Tara (RTD), Chief Director, Mr. Azu Sam-Aziokor, Director of Administration, Mr. Reidar Thorvaldsen, Director of Finance at GHACEM as well as officials from both Ministry of Finance and GHACEM