Ivorian network operator Orange sets June date for dividend payout

AFRICAN STOCKS AND FINANCEMay 23, 2024 at 10:58 PM UTC

TLDR

Orange Côte d’Ivoire (ORAC) to pay annual dividend of 780 FCFA per share on June 3, 2024.
Parent company sees 5.3% revenue increase to 1.016 trillion FCFA in 2023.
Market capitalization of ORAC stands at 1.73 trillion FCFA, representing 21% of the exchange's equity market.

Telecom giant Orange Côte d’Ivoire (ORAC), the second most valuable stock on the BRVM, will pay its annual dividend on June 3 at 780 FCFA net per share with an ex-dividend date of May 30, 2024.

This comes after its parent company recorded a consolidated revenue of 1.016 trillion FCFA ($1.7 billion) in the financial year ended December 2023, representing a 5.3% annual increase.

The network operator, which was listed in 2022, has a market capitalization of 1.73 trillion FCFA ($2.9 billion), which is about 21% of the entire exchange's equity market. It is a dividend-paying company with a current yield of 7.54%.

Key Takeaways

Orange closed on Thursday at 11,500 XOF per share, a 0.4% gain from its previous closing price of 11,450 XOF. Starting the year at 10,900 XOF, the stock has appreciated by 5.5%, ranking 21st on the BRVM for year-to-date performance. The parent company addressed challenges throughout the year by revamping offerings, significantly recruiting, modernizing mobile networks, and expanding fiber networks. These efforts led to substantial growth in its mobile, Orange Money, and fixed internet customer bases.

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