Phuthuma Nathi B-BBEE investment scheme pays R1.3 billion for 2018 dividend

Ujuh Reporter

Phuthuma Nathi, the Multichoice B-BBEE investment scheme, will be paying out R1.3 billion (about R19.50 per share) as 2018 dividend bringing further joy to its investors. The 2018 dividend boosts total dividend paid during the life of this B-BBEE investment scheme to more than R10 billion making it one of the best performing B-BBEE schemes in the country.

The scheme launched in 2006 has benefited handsomely from the sterling performance posted by Multichoice, a subsidiary of globalising media giant Naspers. Multichoice has been printing money from its paid television operation which has conquered large parts of the sub-Saharan Africa market.

Phuthuma Nathi chairperson Mandla Langa.

Phuthuma Nathi chairperson, Mandla Langa, said the Broad-Based Black Economic Empowerment (B-BBEE) investment scheme amounts to “an economic transformation success story.” He said the dividends made by the scheme since launch in 2006 “make a big difference in the lives of our shareholders.”

The 2018 dividend is organised as follows:

  • A dividend of 1 955,56 cents per ordinary share will be declared to ordinary shareholders of Phuthuma Nathi whose names are in the securities register on Thursday 30 August 2018.
  • A dividend of 1 955,56 cents per ordinary share will be declared to ordinary shareholders of Phuthuma Nathi 2 whose names are in the securities register on Thursday 30 August 2018.
  • Phuthuma Nathi and Phuthuma Nathi 2 shareholders will be paid 1 564,45 cents per ordinary share, after deduction of 20% dividend tax, on or about Thursday 6 September 2018.

Phuthuma Nathi management said shareholders who have not received their dividends are requested to contact the call centre on 0860 116 226.

news@ujuh.co.za

You could also be interested in the following story:

Phuthuma Nathi shares show flat movement in 2018 and a deep drop over three years

  • Bheka Derrick Radebe

    The Phuthumanathi BBBEE is by far the most successful empowerment scheme in SA. So much has been written in various platforms bemoaning the failure of BEE in addressing past economic imbalances. The fact of the matter is that people must meet empowerment efforts halfway & demonstrate some hunger for financial empowerment by inter-alia:
    (A) Going the extra mile in identifying IPOs of BBBEE schemes & actively participating in those schemes.
    (B) Adding on to the initially purchased shares by buying more when schemes open up buying opportunities which usually happens after the 1st three years.
    (3) The majority of our people belong to stokvels & most of the stokvels allow members to borrow funds & repay those borrowed funds with interest. Members need to borrow funds, buy into empowerment schemes & enjoy share ownership. It`s a win-win situation because they enhance funding in their stokvels, which benefits them with better dividends or distributions while simultaneously boosting their share ownership in BBBEE schemes.
    (4) The old saying “one can take a horse to the river but cannot force it to drink” rings true when extensive advertising about pending financial empowerment schemes are undertaken & publicised but generally ignored by the same people who later plead poverty & scarce financial empowerment opportunities.
    (5) The sad part of this post is that the higher percentage of BBBEE scheme participants still hold on to the original number of shares they obtained @ scheme commencement whereas they are free to add on by actively boosting their share ownership through buying more shares in order to increase both dividends & holdings.

Leave a Reply

Your email address will not be published. Required fields are marked *