MultiChoice BEE shareholders in R1.2bn dividend payout
Shareholders of Phuthuma Nathi, the BBBEE vehicle of MultiChoice, will receive R1.2 billion in ordinary dividends this year.
This is a significant increase to the amount paid to ordinary shareholders in 2014 – R556 million – as Phuthuma Nathi is debt free in the current year, MultiChoice said.
The dividend was approved by shareholders at the annual general meeting on 2 September 2015 in Johannesburg.
Nolo Letele, chair of MultiChoice South Africa Holdings, said: “This is excellent news for Phuthuma Nathi shareholders. Last year we settled outstanding debts in Phuthuma Nathi and shareholders are now realising the benefits. We hope to continue to pay dividends if the company performs well in the future and we are able to pay dividends.”
Phuthuma Nathi chair, Mandla Langa said: “We’re very pleased with the Phuthuma Nathi scheme. Shareholders have received dividends each year, which have grown from 43 cents per share in 2007 to 1 837,04 cents per share in 2015.
Phuthuma Nathi shares traded just above R180 at 31 August 2015. A shareholder with an initial investment of R10 back in 2006 has seen his investment grow 18 times.
In real world terms, this means that if a shareholder bought Phuthuma Nathi shares at launch for R1,000 (at R10 per share), the shares would be worth more than R18,000 today.
Shareholder would have also received dividends amounting to R3,492, MultiChoice said.
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