BRVM-Listed Filtisac to Pay Record Dividend After Strong 2024 Results
TLDR
- Filtisac said it will distribute 28.2 billion FCFA ($48.7 million) to shareholders, comprising 18.6 billion FCFA ($32.2 million) in dividends
- The payment is set for September 30, 2025, representing 2,000.67 FCFA ($3.46) per share, at a current dividend yield of 41.57%
- The Ivorian packaging company (BRVM: FTSC) reported net profit of 18.6 billion FCFA ($32.1 million) for 2024, up from 3.1 billion FCFA ($5.4 million) in 2023
Filtisac said it will distribute 28.2 billion FCFA ($48.7 million) to shareholders, comprising 18.6 billion FCFA ($32.2 million) in dividends and 9.6 billion FCFA ($16.6 million) from merger premium distribution. The payment is set for September 30, 2025, representing 2,000.67 FCFA ($3.46) per share, at a current dividend yield of 41.57%.
The Ivorian packaging company (BRVM: FTSC) reported net profit of 18.6 billion FCFA ($32.1 million) for 2024, up from 3.1 billion FCFA ($5.4 million) in 2023. Revenue reached 30.7 billion FCFA ($53 million) versus 38.2 billion FCFA ($66.1 million) the prior year.
First quarter 2025 showed mixed results. Revenue grew 7% to 5.7 billion FCFA ($9.9 million) from 5.4 billion FCFA ($9.3 million) in Q1 2024. However, the company posted an operating loss of 78 million FCFA ($135,000) compared to a 204 million FCFA ($352,000) profit in the same period last year. The company will hold its annual shareholder meeting on June 26, 2025, in Abidjan to approve the distributions and renew board members.
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Key Takeaways
Filtisac operates in West Africa's packaging sector, serving agricultural exporters, including cocoa producers. The company's Q1 2025 operating loss reflects challenges from reduced cocoa production, which affects demand for packaging materials. Côte d'Ivoire produces 40% of global cocoa supply. Weather disruptions and crop diseases have reduced output, impacting companies like FILTISAC that supply packaging to exporters. The company noted in its Q1 report that annual results will depend heavily on the 2025/2026 cocoa campaign. Despite near-term headwinds, FILTISAC's strong 2024 performance and substantial dividend distribution demonstrate resilience. The merger premium distribution suggests confidence in cash flow generation. The company's diversification into polymer packaging provides some insulation from agricultural sector volatility, though cocoa remains a key end market for its jute sack business.
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