GHACEM presents GH? 3.5m dividend to government

Ghana Cement Works (GHACEM), the leading cement producer in the country has presented an cheque of GH? 3.5 million to the government as part of its dividend payment.

Deputy Minister for Finance, Hon. Kweku Agyeman Kwarteng, who received the cheque on behalf of the government, observed the economic management strategy of the Akufo-Addo led administration included job creation through production and manufacturing.

He expressed the government’s contentment of partnering and supporting GHACEM to improve upon its performance to the growth of the economy.

Managing Director (MD) for GHACEM, Morten Gade said his company as a policy gives high premium to paying dividends to its shareholders and also meeting its tax obligations.

He however regretted payment of dividends in the 2016 financial year dipped slightly and urged government to support the company’s efforts to improve upon its performance.

GHACEM currently employs over 850 people and Gade further observed the government’s support of the private sector will expand the sector significantly in terms of employment, tax payments and dividends to shareholders.

The company, in December 2016, paid an initial amount of GH? 4.5 million to the Ghana government.

This additional payment of GH? 3.5 million, bringing the total payment to GH? 8.0 million, represents its final payment of the 2016 dividend to government.

The Strategy and Corporate Affairs Director, George Dawson Ahmoah also urged government to enforce and implement the Ghana International Trade Commission (GITC), Act 926 of 2016.

The legislation empowers GITC to regulate Ghana’s international trade in conformity with the rules and regulations of the world trade system and deal with related matters. Enditem

Source: NewsGhana.com.gh

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