Sechaba Breweries Holdings Limited, the titanic brewery group has paid the highest interim dividend in 2013, BG Business has established. Sechaba, a company headed by the incoming Manging Director, Johan De Kok declared a 22 thebe per share dividend payout on 11th July this year, the highest interim dividend declared thus far in 2013 at Botswana Stock Exchange (BSE).
The owners of Kgalagadi Breweries Limited (KBL) are the only listed company that pays dividends on a quarterly basis. Sechaba, which is owned 40 percent by SABMiller, has grown over the years to become one of the most profitable companies in Botswana. Currently the company’s market capitalisation is P2.3 billion being the 7th largest listed company.
On the second spot is Botswana Insurance Holdings Limited (BIHL) with an interim dividend of 15 thebe per share. BIHL group Chief Executive, Gaffar Hassam announced a few weeks back that his company, the 6th largest listed outfit by value had set aside over P56 million to be paid out to shareholders. BIHL owns the largest insurance company, Botswana Life Insurance Holdings (BLIH), and has seen its profits continuously swelling over the years.
Through its 100 percent-owned asset management outfit Botswana Insurance Fund Management (BIFM), BIHL has assets exceeding P23 billion under management. The company also has a stake Aflife, an employee benefits company in Zambia. For the six months to 30 June 2013, BIHL profits soared by 38 percent to P237 million. At 14 thebe per share BancABC Botswana, a subsidiary of African Banking Corporation Holdings, declared the 3rd largest interim dividend in 2013. The company, with ambitions to become a top bank in the African market, declared the dividend by July 30, after it posted phenomenal financial results with profits skyrocketing by 57 percent to P128 million for the 2013 half year.
The bank, headed by Douglas Munatsi occupies the 9th spot on BSE’s top ten companies by value. Meanwhile, Engen, the sole domestically listed petroleum products provider, declared a 10 thebe per share interim dividend on 14 August this year, qualifying to be the 4th highest dividend. The company, which operates several fillings stations countrywide, released colourful financials this week with profits bubbling by 89 percent to P70 million for the 6 months ended June 2013.
The oldest bank in Botswana Standard Charttered Bank Botswana then declared a 6.70-thebe interim dividend during the period, which was the 5th highest. The bank, headed by Moatlhodi Lekaukau is the 5th largest company on the local bourse with a P3.4 billion-market capitalisation.