The group on Thursday declared a final dividend of 90 cents a share, bringing the total dividend for the year to 123.50c, which was up by 5.8 percent compared to last year’s 116.70c.
Chief executive Sean Walsh said despite the slower-than-anticipated recovery from the drought and the severely stressed consumer environment the group had traded in during the year, Kaap Agri managed to report growth in annual earnings.
“All of our divisions contributed significantly during the period. Our ongoing diversification strategy and resilience continue to yield strong revenue growth, paving the way for further profitability as some of the revenue growth is still to flow through to the bottom line,” Walsh said.
Agricultural capital investment and expansions had been curtailed partly due to land policy uncertainty, as low gross domestic product growth, decreasing business and consumer confidence, rising unemployment and ongoing fuel price volatility had negatively affected retail consumers, the group said.