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Suspending dividend amid Heineken takeover talks not 'dictatorial', says Distell

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If Distell becomes part of Heineken, shareholders will not receive a payout.
If Distell becomes part of Heineken, shareholders will not receive a payout.
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Distell CEO Richard Rushton has called on investors to have "patience" and "caution" following the company’s decision to hold off on declaring a dividend amid discussions over a potential takeover by beer maker Heineken. 

On Thursday, the market opened to news that the Savanna maker would not be declaring a dividend, despite its results for the six months ended 30 June showing an improved performance. The group’s revenue increased by 26.3% to R28.3 billion compared to the previous reporting period, putting its recovery at pre-Covid-19 levels. And its earnings shot up by 99.8% to R3.8 billion.

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