Black investors in Phuthuma Nathi, the broad-based black economic empowerment arm of pay-TV operator MultiChoice SA, are in line to share more than R1 billion in dividends.
Phuthuma Nathi shareholders own 25% of MultiChoice SA through the Phuthuma Nathi entity.
In 2019, shareholders voted to combine Phuthuma Nathi and Phuthuma Nathi 2 into one scheme. The combination of these entities resulted in one listed scheme with a single Phuthuma Nathi share price. The transaction did not have any meaningful impact on the number of shares held or their attributable value.
Phuthuma Nathi will receive R1.5 billion of the R6 billion dividend declared by MultiChoice SA, the entity said in its latest 2020 integrated annual report.
The R1.5 billion will amount to R22.22 per ordinary share to be paid to Phuthuma Nathi shareholders. The company will pay a dividend tax of 20% amounting to R4.44 per Phuthuma Nathi share.
Therefore, Phuthuma Nathi shareholders will receive a net dividend of R17.78 per share.
“The broad nature of our shareholder base is one of great pride to me, and highlights MultiChoice SA’s commitment to meaningful broad-based empowerment,” Mandla Langa, chairman of Phuthuma Nathi, said.
“It has been 14 years since its launch, and Phuthuma Nathi now has 81 479 black shareholders as at year-end, comprising individuals, stokvels and black-owned companies. Importantly, your investment in Phuthuma Nathi continues to deliver value, with approximately R11.9 billion in dividends paid since inception.”
Despite the challenges, the 2020 financial year was eventful for Phuthuma Nathi.
The company said from a share scheme perspective, shareholders were offered the opportunity to exchange some of their Phuthuma Nathi shares for MultiChoice Group shares, which are listed on the JSE, and give shareholders exposure to the MultiChoice Group’s strategic growth plans in Africa and its technology business, Irdeto.
During the year, the Phuthuma Nathi share price decreased from R124.07 per share to R84.50 per share, reflecting the challenging operating context and aligned to the overall performance of the equity market.
“It is important to remember that investing in a company indicates a share of ownership, and owners participate in the good times and the bad,” said Langa.
“While we are pleased by the solid performance of MultiChoice SA, the uncertainty surrounding COVID-19 means share prices across the world are negatively impacted.”
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I haven’t follow this since it’s started so just wanna Keon am I still in the skeem
I want to about the shares my dad bought in 2006 because since then no one in the family has claimed and now my dad passed away
https://techfinancials.co.za/2021/02/16/how-to-claim-phuthuma-nathi-unpaid-dividends/
I want to know about my dad’s phuthuma nathi shares because nobody has ever claimed since he passed away
https://techfinancials.co.za/2021/02/16/how-to-claim-phuthuma-nathi-unpaid-dividends/
Unclaim shares enquiry.
I once owned Phuthumafuthi shares please check for me if I have unclaimed dividends
Call Phuthuma Nathi call centre on 086 011 6226 or logg in to the website at http://www.phuthumanathi.co.za.