Govt coffers swell by N$60m
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With many parastatals always looking to the government for bailouts, it was welcome news yesterday when NamPower declared a dividend of N$60.7 million for the financial year ending 30 June 2018.
This was the first time in 13 years that NamPower had declared a dividend, the company's annual reports indicate.
Annual reports available on NamPower's website show it had paid no dividends to the government since as far back as 2009. NamPower spokesperson Rosa Nikanor confirmed to Namibian Sun that the company last declared a dividend in 2005.
NamPower board chairperson Kauna Ndilula said yesterday that its annual general meeting had approved the board's recommendation to declare the dividend. “As a commercial state-owned enterprise we subscribe to the principles of performance and good governance. We also believe that the government, like any other shareholder, should achieve both financial and social rewards from the investments they hold. It is thus our pleasure to present the evidence of our financial performance through this dividend,” said Ndilula.
She said NamPower trusted that the dividend would make a meaningful, albeit small, contribution to the national treasury and help restore confidence in the shareholder, in terms of the contribution of commercial SOEs in the country's economic sphere.
The ceremonial dividend cheque was presented to energy minister Tom Alweendo.
With many parastatals always looking to the government for bailouts, it was welcome news yesterday when NamPower declared a dividend of N$60.7 million for the financial year ending 30 June 2018.
This was the first time in 13 years that NamPower had declared a dividend, the company's annual reports indicate.
Annual reports available on NamPower's website show it had paid no dividends to the government since as far back as 2009. NamPower spokesperson Rosa Nikanor confirmed to Namibian Sun that the company last declared a dividend in 2005.
NamPower board chairperson Kauna Ndilula said yesterday that its annual general meeting had approved the board's recommendation to declare the dividend. “As a commercial state-owned enterprise we subscribe to the principles of performance and good governance. We also believe that the government, like any other shareholder, should achieve both financial and social rewards from the investments they hold. It is thus our pleasure to present the evidence of our financial performance through this dividend,” said Ndilula.
She said NamPower trusted that the dividend would make a meaningful, albeit small, contribution to the national treasury and help restore confidence in the shareholder, in terms of the contribution of commercial SOEs in the country's economic sphere.
The ceremonial dividend cheque was presented to energy minister Tom Alweendo.
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