Capricorn’s profit contracts by 15.6%
17 September 2020 | Business
The group – which includes Bank Windhoek – reported headline earnings per share (HEPS), a profit gauge, of 157.2c for the year ended 30 June 2020. HEPS was 181.5c in the prior book-year.
Capricorn declared a final dividend of 20c per ordinary share. Considering the interim dividend of 30c per ordinary share, this represents a total dividend of 50c per ordinary share.
“The total dividend per share for the year under review is 24.2% lower than the total dividend per share declared for the previous financial year. We believe that the total dividend balances prudency with a fair dividend yield for shareholders,” Capricorn said in its results released on the Namibian Stock Exchange (NSX) today.
One of the factors taken into account of the determination of the dividend was “the call by bank regulators to restrict dividend payments”.
“As a consequence, Bank Windhoek’s final dividend to the Group was 45% lower than the previous year,” Capricorn said.
“Capricorn Group started the 2020 financial year with confidence and delivered positive half year results, despite continuing difficult economic conditions in Namibia and Zambia. Capricorn Group’s operating profits were significantly impacted by the Covid-19 pandemic during the last quarter of the financial year,” it said.
Read the full report Monday in Market Watch.