Vehicle recovery and data analytics company, Cartrack has positioned themselves to declare a dividend from profits generated during the financial year amid the COVID-19 global crisis. The company has declared a dividend of 54 cents per share and has seen an increase of 94 per cent of cash generated from operating activities. Joining CNBC Africa for more is Zak Calisto, CEO of Cartrack.
Cartrack reported strong financial results thanks to 28 per cent increase in subscriptions. The car safety provider has distributed earnings in the form of a 12 cents dividend and headline earning per share amounting to 116 cents which is 15 per cent increase since the previous period. Car track has welcomed Harry Louw as the CEO of the South African region; the company are expecting continued growth in subscribers and revenue in the coming year. Global CEO of Cartrack, Zak Calisto joins CNBC Africa to unpack the numbers.