MultiChoice, the video entertainment and internet company, says that black South Africans now own 40% of the company.<\/p>\n
On Tuesday, the company said that its board has recommended a R1.3 billion ordinary dividend for its BBBEE companies, Phuthuma Nathi, which is due to be paid to shareholders following an annual general meeting in August.<\/p>\n
Citing the Empowerdex Top 100 Empowerment Report, MultiChoice said it is rated the most empowered media company in South Africa, and 12 the most empowered of all South African companies.<\/p>\n
Since the scheme was launched in 2006, Phuthuma Nathi companies have received dividends each year, amounting to a total of R6.5 billion to date. After this year\u2019s dividend, the amount will increase to R7.8 billion, the company said.<\/p>\n
The Phuthuma Nathi 2 share price closed at R148 per share on 24 June 2016. So, if a shareholder bought Phuthuma Nathi 2 shares in 2007 for R1,000 at R10 per share, the shares would be worth R14,800 on 24 June 2016.<\/p>\n
In addition, the shareholder would have received dividends amounting to R5,418 for their R1,000 investment to date.<\/p>\n
This means a shareholder who invested R1,000 in Phuthuma Nathi in 2007 would have made a total of R20,218 – 20 times over the past nine years.<\/p>\n
Read: MTN Zakhele reveals financial results for 2015<\/a><\/strong><\/p>\n According to Nolo Letele, chair of MultiChoice South Africa, 64% of the company’s directors are black, and almost 70% of its staff are black.<\/p>\n The Phuthuma Nathi companies own 20% of MultiChoice. The remaining 80% of MultiChoice is ultimately held by Naspers as an investor.<\/p>\n Naspers\u2019 South African ownership splits into:<\/p>\n MultiChoice South Africa\u2019s ownership, split by race, is now as follows:<\/p>\n Naspers profit climbs on Tencent, e-commerce boost<\/strong><\/a><\/p>\n MTN buys fibre-to-the-home player from MultiChoice<\/strong><\/a><\/p>\n MultiChoice explains why we can\u2019t have SuperSport-only packages<\/strong><\/a><\/p>\n\n
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