(2 minutes read)
· Remgro remains cash-flush and decided to pay out a final dividend
· Remgro’s total cash reserves as at June 30 stood at just over R17 billion, compared with R15.72 billion at the end of its 2019 financial year
The economic fallout from the global coronavirus pandemic has seen dozens of JSE-listed companies withholding, deferring or partially paying out dividends (to retain cash and bolster balance sheets). But Remgro remains cash-flush and decided to pay out a final dividend. Remgro’s total cash reserves as at June 30 stood at just over R17 billion, compared with R15.72 billion at the end of its 2019 financial year.
For the year ended 30 June 2020, a final gross dividend of 50 cents per share [2019: 349 cents] was declared out of income reserves in respect of both the ordinary shares of no par value and the unlisted B ordinary shares of no par value. The final dividend was adjusted downwards to take into account the RMH unbundling and the impact of the Covid-19 pandemic.
