MultiChoice's BBBEE Puthuma Nathi Investments and Phuthuma Nathi Investments 2 will receive more ordinary and special dividends this year than last.
MultiChoice has announced that its BBBEE companies, Phuthuma Nathi Investments and Phuthuma Nathi Investments 2, will receive R900-million in ordinary and special dividends – up on last year's payout.
The Phuthuma Nathi companies will pay shareholders 142.22 cents per ordinary share plus a special dividend of 124.44 cents per ordinary share. This is against 118.5 cents last year
Nolo Letele, executive chair of the MultiChoice South Africa Holdings group, said on Thursday: "The ordinary dividends received by Phuthuma Nathi shareholders have more than tripled [since its conception], growing from 43.3 cents per share in 2007 to 142.22 cents per share in 2013."
The special dividends have also been paid to reduce the original debt when the scheme launched in 2006. If MultiChoice continues to do well and is able to pay dividends, the preference share debt will be paid off in the coming years and the amount of dividends received by shareholders should increase even further over time, the statement said.
Phuthuma Nathi shares started trading publicly on December 8 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 the BBBEE companies have made it possible for 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," said Langa. "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."
As of trade at the close of trade on September 2, Phuthuma Nathi shares closed at R102 per share, represents a capital growth of more than 900%, said Langa.