MultiChoice’s Phuthuma Nathi shareholders to get dividend bonanza

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.”


Partner Content

Disruptive digital solutions is rewiring the DNA of Banking

By Kennedy Mubita, Africa Head, SC Ventures. Imagine a bank whose customers can tap on a wearable device to...

The future of banking; digitization and collaboration as growth accelerants

By Kariuki Ngari, CEO & Managing Director, Standard Chartered, Kenya & East Africa COVID-19 has upended the social and...

Star Quality Speaker Line-Up at Africa Tech Festival 2020

Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats.


Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox