COMPANY NEWS IN BRIEF

ACSA declares dividends worth R816 million Airports Company South Africa (ACSA) concluded its annual general meeting on Friday where it "proudly declared dividends to the tune of R816 million to investors, making it one of the select few state-owned enterprises to do so in the last five years". The declared dividends comprise R768 million for preference shares and R48 million for ordinary shares, marking a significant milestone in the company&#039;s recovery and financial journey. "This achievement places ACSA among the select few state-owned companies in South Africa that have successfully paid dividends to shareholders, underscoring its robust financial health and strategic management. Dividends are a significant source of fiscal revenue to investors, particularly the government which holds more than 74% stake in the company," said ACSA CEO Mpumi Mpofu in a statement. ACSA had announced its results earlier in September, reporting a 16% rise in revenue to R7 billion.-FIN24- Momentum ups payout ratio Insurance and investment group Momentum announced on Friday it was upping its payout ratio, and therefore its dividend, for its year to end-June, with accounting changes prompting a downward revision in earnings. The Centurion-headquartered group&#039;s normalised headline earnings jumped 27% to R4.4 billion, though before restatements, earnings in the prior year had been R5.1 billion. Momentum, valued at about R41.5 billion on the JSE, upped its dividend for the year by 4% to 125c per share, a payout ratio of 40%, up from 35% in 2023, and representing about R1.7 billion. It also approved another R1-billion share buyback over six months, having spent the same amount in the whole of 2024. Headline earnings climbed 32% due to the lower number of shares in issue, while the group said it was pleased all of its units gained market share, though margins on new business slipped.-FIN24-

COMPANY NEWS IN BRIEF

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