SEMC Profit Rises as Cameroon Bottler Plans Dividend

AFRICAN STOCKS AND FINANCEMay 18, 2026 at 10:56 AM UTC

TLDR

SEMC, a Cameroonian bottled-water producer, reports increased profit and plans to pay dividends to shareholders, with revenue reaching CFA10.43 billion under SYSCOHADA accounting standards.
The proposed dividend payout by SEMC amounts to CFA153.9 million, with the company retaining earnings of CFA1.89 billion and a gross dividend of CFA800 per share.
Despite low market liquidity, SEMC's results signify a return to growth in a market with limited industrial stocks, highlighting stronger cash position, higher inventories, and ongoing capital spending.

Société des Eaux Minérales du Cameroun, a bottled-water producer listed on the Central African stock exchange, reported higher profit for 2025 and plans to pay CFA154 million in dividends to shareholders.

The company posted revenue of CFA10.43 billion under SYSCOHADA accounting standards, up from CFA9.96 billion a year earlier. Net income rose to CFA840.7 million from CFA772.3 million in 2024. Under IFRS standards, revenue stood at CFA10.46 billion, while net income reached CFA899.5 million.

SEMC said the proposed dividend payout will amount to CFA153.9 million. The company plans to retain CFA1.89 billion in earnings, supported by CFA1.21 billion carried forward from prior years and the 2025 profit. The board has proposed a gross dividend of CFA800 per share.

The company also reported a stronger cash position. Net cash reached CFA474.2 million at the end of 2025, compared with CFA267.4 million a year earlier. Under IFRS, current assets increased, led by inventories, which rose to more than CFA3.42 billion from CFA2.27 billion in 2024.

SEMC remains one of the few Cameroonian industrial companies listed on the BVMAC. Its shares trade around CFA49,000, according to market data. Investors have also watched the company because of its dividend policy, low market liquidity and role in Cameroon’s consumer goods sector.

Key Takeaways

SEMC’s results show a company returning to growth in a market where listed industrial stocks are limited. The dividend matters because the company went for an extended period without shareholder payouts before resuming distributions. A gross dividend of CFA800 per share gives investors income, but the stock’s low liquidity remains a constraint. For investors, the main story is not only the profit increase. It is the mix of stronger cash, higher inventories, higher payables and continued capital spending. The rise in inventories may show preparation for demand, supply risks or operating needs, but it also ties up cash. Higher accounts payable may support working capital, but it can also show pressure on supplier financing. SEMC also publishes accounts under both SYSCOHADA and IFRS, which helps local and foreign investors read the business through different accounting frameworks. The gap between the 2 sets of figures is not unusual, but it requires care when comparing profit, assets and liabilities. For BVMAC, SEMC’s payout is useful because dividend-paying stocks can draw attention to a market that still has limited trading activity.

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