Dividends Declared in 2026: Zambia LuSE Companies — Amounts & Payment Dates

Last updated: July 9, 2026 | Reading time: ~5 minutes

The Lusaka Securities Exchange is one of Africa's quieter dividend markets in terms of news flow — but not in terms of cash. Zambia's listed banks, brewers and energy companies have a long payout tradition, and the LuSE All Share Index has been setting records through 2026 on the back of the copper-price cycle and a resilient kwacha. The first fully confirmed 2026 payment in our tracker came from Zanaco — Zambia National Commercial Bank — which paid K0.58 per share in June at a ~8.8% declaration yield.

This tracker covers LuSE-listed companies with declared 2026 dividend events in our Zambia dividend calendar. Amounts are in Zambian kwacha (K/ZMW) per share, gross before any applicable withholding tax.

Quick summary:

• 1 tracked dividend confirmed with full dates so far in 2026: Zanaco's K0.58 FY2025 final, paid June 9.
• Declaration yield ~8.8% — comfortably above kwacha term-deposit rates for much of the year.
• Zambia's standard dividend withholding is 15%, but dividends paid to individuals by LuSE-listed companies benefit from preferential treatment — confirm your status with your broker.
• Coverage updates as declarations arrive: LuSE regulars such as Zambia Sugar, Zambeef, CEC, Airtel Zambia and Zambian Breweries publish dividend notices via SENS through the year.

> Track live Zambia market data on the LuSE market desk, or see how Zambia compares continent-wide in the 2026 African dividends tracker.

## Dividends Declared in 2026

Yield at declaration: ~8.8%. Gross, before any withholding deduction.

## Company Notes

Zanaco — K0.58 final. Zambia's flagship commercial bank — majority locally owned, with the government and Arise B.V. as anchor shareholders — has become the LuSE's most dependable dividend name. The FY2025 final of K0.58 per share went ex on May 12 and was paid on June 9, 2026. Zanaco's earnings have compounded strongly on the back of government-securities income and a growing retail franchise, and the bank has raised its dividend repeatedly over the last several years. At ~8.8% at declaration, the yield remains the stock's core attraction even after a strong share-price run.

## What Stood Out This Season

Zanaco keeps the crown. In a market where several listings pay irregularly or in US dollars (a LuSE quirk — some dual-quoted names declare in USD), Zanaco's kwacha payout, consistent May–June cycle and near-9% declaration yield make it the reference income stock on the exchange.

Copper tailwinds, equity records. The LuSE All Share Index has repeatedly hit record highs in 2026, with market capitalisation above K330 billion by mid-year. Rising valuations compress forward yields — Zanaco's 8.8% at declaration was flattered by the timing of the announcement versus the subsequent rally.

The rest of the board declares through SENS. Zambia Sugar (March year-end), Zambeef, Copperbelt Energy Corporation and Airtel Zambia all have payout histories, and their 2026 notices flow through the LuSE's SENS announcement service on their own fiscal calendars. Our tracker adds each as dates are confirmed.

## How Zambia's Dividend Tax Works

Zambia's standard withholding tax on dividends is 15%, deducted at source. Dividends paid to individual investors by LuSE-listed companies benefit from preferential treatment under Zambian tax rules designed to encourage stock-market participation — in practice many individual holders of listed shares receive dividends with reduced or no withholding. Institutional and non-resident investors should confirm their effective rate with their broker or the Zambia Revenue Authority, and treaty relief may apply for non-residents.

## How to Track LuSE Dividends

Our Zambia dividend calendar carries every confirmed LuSE dividend with ex-dates, record dates, payment dates, declaration yields and USD equivalents at official FX rates. For the continental view, see the 2026 African dividends tracker.

A note on coverage: one 2026 dividend is fully confirmed in our tracker as of this update. That is a coverage statement, not a market statement — more LuSE distributions will land through the year, and this page updates as SENS notices confirm amounts and dates.

## FAQ

Which Zambian companies have paid dividends in 2026? Zanaco is the confirmed payer in our tracker so far — K0.58 per share, paid June 9, 2026. Further declarations from LuSE regulars are expected through the year.

What is the dividend withholding tax in Zambia? 15% standard, deducted at source, with preferential treatment for individuals holding LuSE-listed shares. Confirm your effective rate with your broker.

What was Zanaco's dividend yield in 2026? Approximately 8.8% at declaration, based on the K0.58 per share FY2025 final.

## Sources

• Mansa Markets Zambia dividend calendar — compiled from company declarations and LuSE SENS notices
• Zambia National Commercial Bank PLC — FY2025 results and dividend declaration
• Lusaka Securities Exchange — SENS dividend announcements (luse.co.zm)
• Zambia Revenue Authority — withholding tax guidance on dividends

This tracker is for informational purposes only and does not constitute investment advice. Declared amounts and dates can change if companies amend payment schedules after publication.