CAPE TOWN – MultiChoice South Africa on Wednesday declared a R1.5 billion dividend to broad-based black economic empowerment (B-BBEE) scheme Phuthuma Nathi (PN) shareholders.
This reflects an increase of 13.6 percent from 2018, according to a statement released by the company.
MultiChoice chief executive Calvo Malewa said the pay-TV service provider was pleased to announce an increased dividend to the PN shareholders, despite tough economic conditions.
“The PN schemes have now been running for about 13 years and we’re proud that we are able to share our success with thousands of black South Africans,” he said.
In February, MultiChoice listed on the JSE and was thereafter unbundled from Naspers. As part of this transaction, the PN companies were allocated an additional 5 percent share allocation, which increased PN’s shareholding from 20 to 25 percent.