NDTC hands over N.dollar 80 million in dividends

17 Dec 2013 18:30pm
WINDHOEK, 17 DEC (NAMPA) - The Namibia Diamond Trading Company (NDTC) handed over N.dollars 80 million in dividends to its shareholders in the capital on Tuesday.
This is the second time the NDTC hands over dividends for the year, bringing the total amount of dividends paid over in 2013 to N.dollars 120 million.
The NDTC has two shareholders – the Namibian Government and the De Beers Group.
NDTC Chief Executive Officer (CEO) Shihaleni Ndjaba said during the event that 2013 was, in general, an exceptionally good year for the company.
He said the NDTC’s revenue grew from N.dollars 8.7 billion in 2012 to an all-time high of N.dollars 11 billion in 2013, representing an increase of 26,5 per cent for the year.
This positive growth is largely attributed to relatively higher diamond production, coupled with favourable foreign exchange rates.
“I must also share with you that the business performance was equally impacted negatively by the prevailing challenging market conditions which were driven primarily by constrained liquidity, depreciation of the Indian Rupee against the US dollar, high stock levels particularly in the mid-stream, and a slowdown in the Chinese and Indian economies,” he said.
Ndjaba added that despite the challenges the NDTC faced, it has ensured that the company meets and exceeds target expectations and ultimately ensured that the company fulfils its mandate of maximising shareholders' value.
He said the massive efforts undertaken by NDTC’s partners Namdeb Diamond Corporation and Debmarine will have a huge influence in determining whether the trading company reaches its supply targets and create value for its shareholders.
“NDTC will continue to add value, one carat at a time,” he said.
(NAMPA)
ANS/AS/