Multichoice sets aside R2.5 billion for dividends from 2020

The MultiChoice Group Limited (MCG) has released a statement providing further details about its listing on the Johannesburg Stock Exchange (JSE).

MCG – a spin-off from Naspers – will include MultiChoice South Africa (MCSA), MultiChoice Africa, Showmax, Irdeto and all their subsidiaries and affiliates.

In the statement, the group said that trading in MCG shares is expected to commence on the JSE on Wednesday, 27 February 2019.

Speaking to Reuters, Multichoice CFO Tim Jacobs said that the firm would make its first payment to shareholders in 2020 after the Johannesburg Stock Exchange (JSE) approved Naspers’ plan to spin-off and list the pay-TV company.

“The board intends to declare an inaugural dividend of R2.5 billion for our financial year 2020,” he said, although it did not plan to pay one in 2019.

In the past two fiscal years, the MultiChoice Group has grown its subscriber base by 14% compound annual growth rate.

For the financial year ended 31 March 2018, the MultiChoice Group’s subscriber base was 13.5 million, which represented a 13% increase over the financial year ended 31 March 2017. The MultiChoice Group’s revenues were R47.5 billion compared to R47.7 billion the year before.

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Multichoice sets aside R2.5 billion for dividends from 2020