More than 75 000 black shareholders from all walks of life will receive R20.37 per share in the first week of September, says the company.
JSE-listed video entertainment group MultiChoice is set to distribute R1.375 billion in dividends this year via its black economic empowerment schemeAccording to the company, more than 75 000 black shareholders from all walks of life – including domestic helpers, gardeners, professionals, stokvels and small businesses – will receive R20.37 per share in the first week of September.
Elias Masilela, MultiChoice SA chairperson, says: “The challenging macro-economic environment continued to affect our business during the past financial year, and we are pleased we could still grow earnings and cash flows to support a stable dividend. “An investment in Phuthuma Nathi of just R4 000 in 2006 would have yielded R42 400 in share value and more than R65 256 in dividends to date. This represents a 30% annual return over the past 18 years, significantly above market benchmarks.”financial resultsAccording to the company, this was mainly due to a 13% decline in the “rest of Africa” business, with Nigeria, Angola and Zambia most affected, while the South African business was more resilient, declining by only 5%.
Phuthuma Nathi Black Economic Empowerment BEE Mandla Langa Elias Masilela
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