BEE shareholders get R1.3 billion in dividends from MultiChoice

8 September 2017


MultiChoice has announced that its Phuthuma Nathi shareholders will receive R1.3 billion in ordinary dividends.

The dividend, which was approved by shareholders at the annual general meeting held in Johannesburg on Wednesday, means that total dividends of R9.1 billion have been paid to Phuthuma Nathi since the scheme launched in 2006.

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, the company said.

“We are proud of our BBBEE scheme, Phuthuma Nathi, and our contribution to economic transformation in South Africa,” said Nolo Letele, chair of MultiChoice South Africa Holdings.

“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.”

MultiChoice said it has spent a total of R10.4 billion with BBBEE suppliers in 2017, including R3.3 billion with small and medium enterprises.

Source: Business Tech