MultiChoice’s Phuthuma Nathi shareholders to get dividend bonanza

PUBLISHED: Wed, 30 Aug 2017 16:07:51 GMT

Shareholders of  MultiChoice’s broad-based black economic empowerment scheme Phuthuma Nathi will receive R1.3bn in ordinary dividends or 1 926 cents a share. Read Phuthuma Nathi’s statement below…

Nolo Letele, Chair of MultiChoice South Africa Holdings, said: “We are proud of our BBBEE scheme, Phuthuma Nathi, and our contribution to economic transformation in South Africa. Today, black South Africans have more than 55% financial ownership of MultiChoice, through shareholdings in Naspers and the Phuthuma Nathi share schemes. Our board is made up of 60% black and 30% women directors. 87% of our employees are black and 51% are women. This is an excellent achievement for our group.”

Phuthuma Nathi shareholders will receive an ordinary dividend of 1 926 cents per ordinary share. The dividend, less 20% dividend withholding tax, will be paid to shareholders on or about 6 September 2017.

Chair of Phuthuma Nathi, Mandla Langa, said: “Our Phuthuma Nathi share scheme is an economic transformation success story.  We’re proud to announce that, despite a tough economic environment, we will again pay dividends to our shareholders this year. Since launching Phuthuma Nathi 11 years ago, shareholders have received dividends each year – starting at 43 cents in the first year and increasing to 1 926 cents per ordinary share this year. These dividends make a big difference in the lives of our shareholders.”

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