Phuthuma Nathi shareholders receive R1.5bn dividend

News: South Africa

Phuthuma Nathi will receive a R1.5bn dividend after the MultiChoice South Africa dividend was approved at its annual general meeting today.

Phuthuma Nathi shareholders receive R1.5bn dividend

An ordinary dividend of R22.22 per share before dividend tax (R17.78 after tax) will be paid to Phuthuma Nathi shareholders in the first week of September 2021.

Imtiaz Patel, MultiChoice South Africa chair, said: “The economic environment in South Africa combined with the effects of COVID-19 have created tough conditions. Despite these challenges, we’re delighted to declare a dividend. We know this will bring much needed relief to our shareholders during these difficult times. Our share scheme is truly broad-based, which means more than 80 000 black shareholders will benefit from this dividend, including professionals, stokvels, helpers, gardeners and small businesses.”

Phuthuma Nathi shareholders have received dividends every year since the share scheme started in 2006. To date, the total dividends paid to Phuthuma Nathi shareholders, including the current year, is R14.9 billion.

Phuthuma Nathi chair, Mandla Langa, said: “Phuthuma Nathi is one of the most successful BBBEE share scheme in South Africa. MultiChoice is creating real value with great returns for our shareholders.”

We have an amount of dividends that have not been claimed. Last year Phuthuma Nathi embarked on a media campaign to find these shareholders.

“We understand that we live in tough economic times. That is why we embarked on this campaign – we wanted to ensure that our shareholders who have not claimed their dividends, get what is rightfully theirs. I am pleased to say the campaign was a success and to date we have paid more than R50 million of these unclaimed dividends.”

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