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.
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