Datatec to pay more than R150m dividend after shareholders opt for this than shares

DATATEC has said it will pay its shareholders a total of R150.93 million after they opted to receive a cash dividend instead of scrip distribution shares.

The group said shareholders were entitled to elect to receive a number of scrip distribution shares determined in the ratio of 3.42096 scrip distribution shares for every 100 ordinary shares held on the record date, which was July 16, instead of the cash dividend.

The group declared a dividend of 100 cents a share in its result in May.

“Shareholders recorded in the register of the company at the close of business on the record date holding 150.93 million ordinary shares did not elect to receive the scrip distribution alternative and will therefore receive the gross cash dividend of 100c per Datatec ordinary share (where applicable, 80c per Datatec ordinary share, net of applicable dividend withholding tax, resulting in a total gross cash dividend of R150.93m, which was paid out of the distributable retained profits of the company,” the group said.

sandile.mchunu@inl.co.za

BUSINESS REPORT ONLINE