Black investors in YeboYethu, the broad-based black economic empowerment arm of Vodacom SA, will share more than R18 million in dividends. By Staff Writer
YeboYethu recorded a net profit of R139.6 million for the year ended March 2016 versus R35.6 million in the previous year.
After the deduction of administrative costs, the YeboYethu board declared and approved an annual ordinary dividend of 74 cents per share as well as a special dividend of 37 cents per share, paid on 31 May 2016.
YeboYethu received a dividend of R18.7 million in 2016 versus R14.8 million in the previous year.
YeboYethu trades on the JSE
Last month, YeboYethu was listed today on the JSE’s black economic empowerment (BEE) board.
The Vodacom YeboYethu empowerment scheme was established in 2008 and allowed black people to purchase Vodacom SA shares at a discount. YeboYethu does not own nor have any beneficial interests in nor rights to Vodacom Group shares.
To date, 14,3 million YeboYethu shares are owned by about 87 534 black investors. Between February 2014 and July 2016, these shares changed hands on the YeboYethu Over-the-Counter (OTC) trading platform. The closing pricing on the OTC trading platform on Friday, 15 July 2016 was R53.01 per share.