SAPH to distribute over $3m to shareholders despite major profit dip
TLDR
- SAPH's turnover decreased by 8% to 206.47 billion FCFA ($341 million) in 2023.
- Net profit for SAPH dropped significantly by 78.23% to 3.64 billion FCFA.
- Shareholders of SAPH will receive a bonus of 1.84 billion FCFA, with a net dividend of 64.80 FCFA per share after tax.
The Société Africaine de Plantations d'Hévéas (SAPH) experienced a decline in turnover of 8%, amounting to 206.47 billion FCFA ($341 million), and a significant decrease in net profit of 78.23%, totaling 3.64 billion FCFA by the end of the 2023 financial year.
Despite this downturn, the company has announced a bonus of 1.84 billion FCFA to its shareholders, payable on August 12, 2024. This represents a distribution rate of 50.62%.
Each shareholder will receive a net dividend of 64.80 FCFA per share after accounting for the 10% IRVM tax, which corresponds to a dividend yield of 2.16%.
Key Takeaways
Saph Côte d’Ivoire is currently the 25th most valuable stock on the BRVM, with a market capitalization of XOF 76.7 billion. The stock began the year with a share price of 2,350 XOF and has since gained 27.7%, making it the sixth-best performer on the BRVM in terms of year-to-date performance. Shareholders can remain optimistic about SPHC, as the stock has accrued a 9% increase over the past four-week period, ranking it eighth best on the BRVM.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.