GHACEM pays gov’t GHc3.7million dividend

Ghacem Limited has presented a cheque for GH¢3.7 million to the government as interim dividend payment on its 2014 accounts.

The dividend, which was declared at a meeting of the Board of Directors of Ghacem, represents the government’s 400,000 shares held in the Company.

Mr Morten Gade, the Managing Director (MD) of Ghacem, accompanied by the Strategy and Corporate Affairs Director, Dr George Dawson-Ahmoah, presented the cheque at a short ceremony at the Finance Ministry which was represented by Mrs Mona Helen Quartey, Deputy Minister of Finance

Handing over the cheque, Mr Gade noted that the dividend exemplified Ghacem’s commitment towards partnering the government in national development, “and we will not relent on our oars but continue to promote this partnership by remaining truly the nation builder in producing quality cement at affordable prices.”

“We take pride in presenting dividend due to the State as a law abiding company and of course are very glad to say that the company has paid GH¢24.6 million to Government in a form of dividend from 2011 to date,” he said

Mr Gade stressed that aside this dividend, the company also honoured other financial obligation to the State in terms of direct and indirect taxes and “in 2013, for example, we handed over a cheque for GH¢ 211.8 million in honour of these taxes.”

Receiving the cheque, Mrs Quartey commended Ghacem for its consistency in paying dividend despite challenges in their sector and particularly praised them for the bold step taken in reducing their ex-factory price of cement recently after the cedi appreciated against major international currencies.

The government, she said, would continue to support Ghacem to achieve its goals for the country to benefit from the company’s success story.

Later in an interview with the media, Dr Dawson-Ahmoah noted that occasions such as this was dear to Ghacem “because it means money has come to the state to support national development, which we are all praying for.”