Hundreds of Free Fully Accredited Data science learnerships up for grabs

Registrations open today for EXPLORE Data Science Academy’s (EDSA) 2021 intake of its 12-month fully-sponsored data science learnerships, starting January 11, 2021. For hundreds of successful...

Latest Posts

What To Expect From A Criminal Defense Lawyer?

If you feel like you or someone you know is stuck or trapped in a criminal case, it’s a good idea to hire a...

Chinese Smartphone Manufacturer Oppo Sets Up Shop in South Africa

Chinese smartphone manufacturer Oppo is investing in South Africa with local head office and a commitment to making world-leading innovations more accessible. Oppo is the...

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

MultiChoice black investors share R1.2bn

 

By Gugu Lourie

“Wait, please put your DStv on pause. It’s going to be a jolly good day for Phuthuma Nathi investors on 9 September 2015. “


Black investors in Phuthuma Nathi, the broad-based black economic empowerment arm of pay-TV operator MultiChoice, will share more than R1.2 billion in dividends.

“(MultiChoice) again created significant value for stakeholders and recorded positive financial results despite material shifts in its operating environment. The management team continues to address risks and material issues proactively to ensure great entertainment, sustainability and value creation,” Nolo Letele, the chairman of MultiChoice, said in the group’s 2015 annual report.

Letele added that Phuthuma Nathi was one way in which MultiChoice invest in the future of the South African society.

The pay-TV operator will pay Phuthuma Nathi a gross ordinary dividend of R827 million in 2015 versus R373million and R75 million in ordinary dividends in 2014.

MultiChooice will also pay Phuthuma Nathi 2 scheme shareholders R413 million in gross ordinary dividend compared to R187 milllion and R38 million in ordinary dividends in 2014.

The company didn’t declare special dividend in 2015 versus R264 million paid to Phuthuma Nathi and R180 million paid to Phuthuma Nathi 2 in 2014.

Both Phuthuma Nathi and Phuthuma Nathi 2 investors will receive a total net dividend of 1 561, 48 cents per share to be paid on 9 September 2015.

In December 2011 shares in Phuthuma Nathi began trading publicly.

MultiChoice said investors who invested in the BBBBEE scheme and still held their shares until 31 March 2015 have received a return of over 1 400%, including dividends.

The pay-TV operator said that about 70% of black investors have not sold their share since inception of the schemes.

The principal activities of MultiChoice and its operating subsidiaries are the operation of pay-TV and Internet subscriber platform.

The pay television and internet company said it had increased its pay-TV subscribers by 573,000 in the year, pushing its total figures to 5.4 million households.

“We will continue to focus on giving our customers access to a world of entertainment – anywhere, anytime and on any platform. We will enhance our offerings by inventing original products, investing in and developing new technologies, while continuing to improve our customer service initiatives,” said the firms’ CEO Imtiaz Patel.

Latest Posts

What To Expect From A Criminal Defense Lawyer?

If you feel like you or someone you know is stuck or trapped in a criminal case, it’s a good idea to hire a...

Chinese Smartphone Manufacturer Oppo Sets Up Shop in South Africa

Chinese smartphone manufacturer Oppo is investing in South Africa with local head office and a commitment to making world-leading innovations more accessible. Oppo is the...

SA’s Digital Heritage: Keeping Us Globally Relevant

South Africa’s heritage is not just physical. It is intimately part of the digital world. Digital connectively can enhance the value of that heritage,...

How is Huawei Powering Digital Inclusion with Technology in Africa?

Huawei believes that no one should be left behind in the digital world, so the Chinese telecoms giant developed TECH4ALL. TECH4ALL is a long-term, digital...

Don't Miss

Enjoy a Revitalizing Weekend Away With The Whole Family at Knorhoek

Wide-open spaces are a great place to decompress after months of lockdown, and Knorhoek ticks all the boxes for the perfect country escape. Situated in...

Getting Smart With Gadget Shopping During An Extended Quarantine

Staying quarantined for a prolonged period is the last thing that anyone would want to do. But there’s hardly a choice for people amid...

Avon Disrupts the Norms to Create Addictive, Rebellious & Fierce “Far Away Rebel & Diva”

Avon breaks all the rules with Far Away Rebel & Diva. The new launch is the next step in the glamorous bold journey of...

Investec Says Union Must Seek Answers For Phantom Shares from Cell C

Investec has told the Information Communication Technology Union (ICTU) to direct its questions about the Believe Phantom Option Share Scheme for Cell C workers to the...

Union Asks If Blue Label Telecoms Is Using Cell C as a ‘Piggy Bank’

The Information Communication Technology Union (ICTU) wants Blue Label Telecoms to explain how the JSE-listed company can zero rate its stake in Cell C...

Stay in touch

To be updated with all the latest news, offers and special announcements.