The Sunday Mail
Online Reporter
The National Building Society (NBS) has paid its maiden financial dividend to the tune of $27 million to the National Social Security Authority (NSSA).
The dividend was paid at a ceremony in Harare on Tuesday evening.
Said NBS chairman Mr Shingai Mutumbwa:
“This momentous milestone event has been reached within five years of operation and is a testimony of the solid growth path that the Society has taken within its relatively short period of existence.
“We believe NBS has reached that stage in its corporate life where it will start contributing to NSSA’s mandate of liveable pensions through regular and growing dividends.”
The $27 million dividend represents a pay-out ratio of 30 percent, “which is being declared on the basis of solid financial performance to 30 June 2021 that has seen the Society achieve a surplus of $90,2 million and balance sheet growth of 125 percent to close at $2,4 billion,” said Mr Mutumbwa.
NBS has to date delivered 636 housing units across the country.
“The Society remains laser-focused on delivering the four key projects namely Dzivarasekwa Housing Project (Harare), Newmara (Mutare), Brundish (Chinhoyi) and Glaudina (Harare) within the coming year.
“The Dzivarasekwa housing project, which is scheduled for completion in December this year will see the delivery of 500 units,” said Mr Mutumbwa.
“The Society has also made significant progress around housing projects with the resumption of works at Newmara in Mutare and Chinhoyi where 153 units and 1 368 fully serviced stands will be added, in addition to the mortgages scheme project at Knockmalloch, which has seen a total of 51 units being completed.”
