Resurgent Southern Sun Hotels declares first dividend since listing

Cape Town – where the group has significant exposure – ‘had a strong tourism, business travel and event-related year’.

JSE-listed hotels giant Southern Sun has bounced back strongly from the Covid-19 blow to South Africa’s tourism and hospitality industry a few years ago and on Wednesday reported an 88% surge in Adjusted Headline Earnings per share for the year ended 31 March 2024.

“Southern Sun’s board of directors has approved and declared a final dividend of 12.5 cents per ordinary share in respect of the year ended 31 March 2024,” it said in a JSE results release on Wednesday. It also owns hotel properties managed by international brands, such as the Westin and Radisson Waterfront Hotel in Cape Town, which has increased its Western Cape exposure, following its HPF takeover.

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