MultiChoice BBBEE companies receive R900 million
MultiChoice has announced that its Broad Based Black Economic Empowerment (BBBEE) companies, Phuthuma Nathi Investments and Phuthuma Nathi Investments 2, will receive ordinary and special dividends amounting to R900 million.
The Phuthuma Nathi companies will receive an ordinary dividend of R480 million, compared to R400 million paid last year, and a special dividend of R420 million.
In turn, the Phuthuma Nathi companies will pay shareholders an ordinary dividend of 142.22 cents per ordinary share, plus a special dividend of 124.44 cents per ordinary share.
Phuthuma Nathi shareholders will receive dividends amounting to 266.66 cents per ordinary Phuthuma Nathi share, compared to 118.5 cents paid in 2012.
“We are very proud that Phuthuma Nathi Investments have been paying dividends since inception. The ordinary dividends received by Phuthuma Nathi shareholders have more than tripled, growing from 43.3 cents per share in 2007 to 142,22 cents per share in 2013,” said Nolo Letele, executive chair of the MultiChoice South Africa Holdings group.
“With this year’s special dividend, Phuthuma Nathi shareholders have to date received R6.88 per share.”
The special dividends have also been paid to reduce the original debt when the scheme launched in 2006.
Phuthuma Nathi shares started trading publicly on 8 December 2011. The trading platform for the Phuthuma Nathi companies hosted over 16,000 deals to date, representing a volume of 10.9 million shares traded.
Mandla Langa, chair of both Phuthuma Nathi companies said: “Phuthuma Nathi has enabled ordinary black South Africans to invest in an innovative and cutting edge company. We are delighted that over 87% of our shareholders have held on to their shares since inception of the schemes.”
Langa noted that shareholders who bought Phuthuma Nathi shares when the schemes launched in 2006 and 2007 at R10 per share, have seen a significant increase in the value of their investment. For example, the Phuthuma Nathi shares closed at R102.00 per share on 02 September 2013, representing a capital growth of more than 900%.
More on Multichoice
MultiChoice unveils DStv PVR “on steroids”
Naspers hikes Internet revenue by 70%
Loading ...