Innscor hands over US$460k dividend to employees

TANAKA FETINANDI

ZSE-Listed manufacturing group, Innscor Africa Limited has handed over US$460 000 payouts of the dividend to the Innscor Employee Share Trust.

Speaking at the Dividend Handover Ceremony held in Harare yesterday, group chairman Addington Chinake said the $460 000 dividend is an addition to the normal employment contract benefits which allows employees to be aligned with shareholders.

“We are a giving organisation, so we cannot operate on the basis that only some people benefit from the operation of the company,” Chinake said.

“So as part of employee participation, that is the company’s initiative. Secondly, the government also introduced the historically indigenisation programme where it encouraged cooperates to empower communities and employees. The employee share trust was formalised as part of that initiative programme. We are one of the few companies that have an active and operating employee share ownership trust.’’

Employees who spoke to the Business Times said the initiative was commendable.

“We are grateful for this initiative, and a lot of money that has been donated to help workers. May this great initiative go far in helping the workers,” an employee said.

“Thank you for including us as workers for being the owners of this shared trust. This shared trust has added only great memorable events and brought impact in our lives. What is happening at Innscor is not happening in other companies. We are thankful for such an honour and believing in us and that we can share this together.’’

Innscor Group owns brands such as Irvines, Bakers Inn, Colcom, Pro Brands, Natpark, among others.