Johannesburg - Shareholders of MultiChoice’s broad-based black economic empowerment (BBBEE) scheme, Phuthuma Nathi, will receive R1.2bn in ordinary dividends this year.
This is just over double the R554m amount paid to ordinary shareholders in 2014.
The dividend comes amid Phutuma Nathi being debt free in the current year. The dividend was also approved by shareholders at an annual general meeting in Johannesburg on Wednesday.
“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,” said Phuthuma Nathi chair, Mandla Langa, in a statement.
“In addition, the Phuthuma Nathi share price has seen consistent growth since the shares started trading in 2011,” said Langa.
MultiChoice said Phuthuma Nathi shares traded just above R180 as of August 31 2015. Phuthuma Nathi launched at R10 per share in 2006.
MultiChoice issued the Phuthuma Nathi over-the-counter shares in 2006 as part of its BBBEE scheme.The scheme has also resulted in black South Africans owning 20% of the company.