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AFROCENTRIC INVESTMENT CORPORATION LIMITED - audited results and dividend declaration

Release Date: 13/09/2019 09:00
Code(s): ACT     PDF:  
 
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audited results and dividend declaration

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“the Company")

Summarised annual results for the year ended 30 June 2019 and dividend declaration

Introduction to the AfroCentric Group

AfroCentric is a majority black-owned JSE listed investment holding company which operates in and
provides specialised services to the public and private healthcare sectors. AfroCentric has and
continues to maintain its deliberate objective of being the leading exemplar of transformation and
empowerment in the South African healthcare sector.


Salient Features
                                                           %             Year ended          Year ended
                                                      change           30 June 2019        30 June 2018
Total revenue                                            25.7         5 296.8 million     4 212.7 million
Operating profit                                         23.8          771.5 million       623.1 million
Operating profit (excluding lease reversals)                 8.8       677.7 million       623.1 million
Healthcare Services Operating profit                     (1.2)         548.4 million       555.3 million
Healthcare Retail Operating profit                       90.6          129.2 million         67.8 million
Profit before tax                                        (1.8)         528.5 million       538.4 million
Basic earnings (rands)                                       5.2       269.9 million       256.6 million
Headline earnings (rands)                                    1.6       265.2 million       260.9 million
Normalised headline earnings (rands)                         4.3       275.5 million       264.1 million
Basic earnings (cents per share)                             4.0               48.12               46.29
Headline earnings (cents per share)                          0.5               47.29               47.06
Normalised headline earnings (cents per share)               3.1               49.13               47.63
Weighted average number of ordinary shares                             560.8 million       554.4 million

Dividends

The Board has pleasure in announcing that in addition to the interim gross dividend per ordinary share
of 17 cents, a final gross dividend of 17 cents per ordinary share has been declared for the year ended
30 June 2019. Dividends are subject to Dividends Withholding Tax. The payment date for the dividend
is 4 November 2019.

• Dividends have been declared out of profits available for distribution.
• Local Dividends Withholding Tax rate is 20%.
• The gross dividend amount is 17 cents per ordinary share.
• The net cash dividend amount is therefore 13.6 cents per ordinary share.
• The Company has 574 241 248 ordinary shares in issue as at the declaration date.
• The Company’s income tax reference number is 9600/148/71/3.

The salient dates relating to the dividend are as follows:
Last day to trade cum dividend                               Tuesday, 29 October 2019
Shares commence trading ex-dividend                          Wednesday, 30 October 2019
Dividend record date                                         Friday, 1 November 2019
Dividend payment date                                        Monday, 4 November 2019

Share certificates for ordinary shares may not be dematerialised or rematerialized between Wednesday,
30 October 2019 and Friday, 1 November 2019, both days inclusive.
Full Announcement

This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the full announcement which is available for viewing on the following websites:

Company’s website: http://www.afrocentric.za.com/inv-reporting.php.

JSE website: https://senspdf.jse.co.za/documents/2019/jse/isse/act/ACT130919.pdf

Any investment decision by investors and/or shareholders should be based on consideration of the full
announcement, copies of which are also available for inspection at our offices and our sponsor’s offices on
work-days during business hours, at no charge:


On behalf of the Board


Dr ATM Mokgokong                                         Mr A Banderker
Chairperson                                              Group Chief Executive Officer

Johannesburg
13 September 2019

Date: 13/09/2019 09:00:00
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