24 August 2022: Phuthuma Nathi shareholders will receive a R1.5bn dividend for the year ended 31 March 2022, after it was approved at the annual general meeting (AGM) today. Shareholders will be paid R22.22 per share before dividend tax (R17.78 after tax) in the first week of September.
Imtiaz Patel, MultiChoice SA chair, said: “Despite the tough business conditions, the board declared a dividend again this year, in the full knowledge that this will go a long way towards helping our shareholders to navigate the challenging economic climate.”
Phuthuma Nathi chair, Mandla Langa, added: “We are proud of our truly broad-based black economic empowerment scheme, one of the most successful BBBEE schemes in South Africa. Our shareholders come from all walks of life – from domestic helpers to gardeners, professionals, stokvels and small businesses. We feel fortunate that MultiChoice SA’s resilient performance enables Phuthuma Nathi to continue to support these shareholders and positively impact their lives.”
Since the start of the scheme in 2006, Phuthuma Nathi shareholders have received dividends every year. The total dividends paid to Phuthuma Nathi by MultiChoice SA to date, including this year’s dividend, is R16.4bn.
Phuthuma Nathi keeps delivering real value to shareholders. For example, if a shareholder bought Phuthuma Nathi shares in 2006 for R4 000 at R10 per share, their shares would be worth approximately R62 000 (based on a share price of R155 on 4 August 2022). The shareholder would have also received dividends amounting to R52 000 over the period, which means that the investment return for this shareholder would be R110 000 to date.
However, not all shareholders have claimed their dividends. As some shareholders have failed to update their banking details and others are deceased. Phuthuma Nathi launched an awareness campaign in 2020 and is conducting tracing to find these shareholders.
“We have been trying to reach these shareholders to pay them the money that is rightfully theirs. To date, more than R83m of unclaimed dividends has been paid but there is still R177m that remains to be claimed. We urge our shareholders who have not received dividends to reach out to us via the Phuthuma Nathi call centre,” concluded Langa.