{"id":326189,"date":"2019-06-28T10:16:55","date_gmt":"2019-06-28T08:16:55","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=326189"},"modified":"2019-06-28T10:17:22","modified_gmt":"2019-06-28T08:17:22","slug":"how-much-dis-chems-billionaire-co-founders-got-paid-last-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/326189\/how-much-dis-chems-billionaire-co-founders-got-paid-last-year\/","title":{"rendered":"How much Dis-Chem’s billionaire co-founders got paid last year"},"content":{"rendered":"

Dis-Chem has published its integrated annual report<\/a><\/strong> for the year ended February 2019, showing how much the group’s co-founders took home, and how much their stake in the company is currently worth.<\/p>\n

Dis-Chem is a leading retail pharmacy group with operations in South Africa, Namibia and Botswana. The company was co-founded by Ivan and Lynette Saltzman in 1978 when they opened their first retail pharmacy store in Mondeor, south of Johannesburg.<\/p>\n

The group listed on the JSE in late 2016, with plans to accelerate its expansion in South Africa. As of 2019, the group’s retail division consists of a store base of 149 stores, over 280 clinics providing general health services, and its own courier business known as Dis-Chem Direct.<\/p>\n

It also runs other services such as an online and click & collect business as well as ancillary services which include hair and beauty salons.<\/p>\n

Although the group is a publicly listed company, the Saltzman family retained majority control of the group, with a 52.7% shareholding – or just over 453 million shares. At current share prices, this puts their combined shareholding at R12 billion.<\/p>\n

Dis-Chem has a market capitalisation of R22 billion, and employs 17,500 permanent, fixed-term and casual employees.<\/p>\n

Financial performance<\/strong><\/p>\n

Along with most of the retail sector in the 2018\/19 financial year, Dis-Chem faced a challenging economy with consumers under pressure.<\/p>\n

Despite this, the group increased revenue by 10% to R21.4 billion, with a gross margin at 24.4%.<\/p>\n

Total income increased 14.2% to R6.2 billion, while operating profit increased 8.2% to R1.2 billion. Headline earnings were recorded at R735 million, and increase of 7.4%, with headline earnings per share (HEPS) at 85.4 cents.<\/p>\n

The group declared a final dividend of 34.2 cents.<\/p>\n

The group said that it has achieved its goal of rolling out 20 or more stores, annually, and the plan remains on track for the years moving ahead.<\/p>\n

Five stores have been opened since the beginning of March 2019 and an additional 17 store openings are planned through to February 2020.<\/p>\n

Executive pay<\/strong><\/p>\n

The group paid its executive directors a combined R34 million, with R4.9 million paid to non-executive directors.<\/p>\n

Chief executive Ivan Saltzman took home R12.8 million for the year, while Lynette Saltzman – as managing director – took home R10.4 million.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Veldskoen and Sorbet investor Brian Joffe scores big payday<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Dis-Chem has published its integrated annual report for the year ended February 2019, showing how much the group’s co-founders took home, and how much their stake in the company is currently worth.<\/p>\n","protected":false},"author":10,"featured_media":326201,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[11643,26],"class_list":["post-326189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dischem","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/326189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=326189"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/326189\/revisions"}],"predecessor-version":[{"id":326209,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/326189\/revisions\/326209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/326201"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=326189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=326189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=326189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}