Wrap Text
Results for the six months ended 31 December 2020 and interim dividend
AVI LIMITED
Registration number: 1944/017201/06
JSE and A2X share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group" or "the Company")
RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2020, AND INTERIM DIVIDEND
Key statistics and features
% change
Revenue (0,1)
Gross profit (4,8)
Operating profit (2,6)
Headline earnings 1,4
Headline earnings per share 1,2
Earnings per share (27,7)
- COVID-19:
- Mixed impact on demand across categories;
- Additional costs of R18 million;
- Group revenue declined by 0,1%;
- Selling price increases taken to offset higher raw material costs in some categories;
- 6,9% decline in selling and administrative costs;
- I&J's abalone category materially impacted by COVID-19 related export demand and price pressures;
- Operating profit declined by 2,6%;
- Net finance charges 48,8% lower;
- Headline earnings per share up 1,2% to 297,3 cents;
- Cash from operating activities increased by 0,8%;
- Interim dividend of 160 cents per share in line with last year;
- Special dividend of 280 cents per share.
This short-form announcement is the responsibility of the directors, and has not been reviewed or audited by the
Group's auditors. The short-form announcement is only a summary of the information in the full announcement.
Any investment decision should be based on the full announcement.
The full announcement can be found
- On the JSE's website at https://senspdf.jse.co.za/documents/2021/jse/isse/AVI/AVIH1F21.pdf
- On the Company's website at https://www.avi.co.za/investor/results-and-presentations/current-year
Copies of the full announcement may also be requested at the Company's registered office and offices of our sponsor,
at no charge, during office hours.
Interim dividend
Notice is hereby given that a gross interim normal dividend No 96 of 160 cents per share for the six months ended
31 December 2020 and a gross special dividend No 97 of 280 cents per share has been declared payable to shareholders of
ordinary shares. Both dividends have been declared out of income reserves and will be subject to dividend withholding tax
at a rate of 20%. Consequently a net interim normal dividend of 128 cents per share and a net special dividend of 224 cents
per share will be distributed to those shareholders who are not exempt from paying dividend tax. In terms of dividend tax
legislation, the dividend tax amount due will be withheld and paid over to the South African Revenue Services by a nominee
company, stockbroker or Central Securities Depository Participant ("CSDP") (collectively "regulated intermediary") on behalf
of shareholders. However, all shareholders should declare their status to their regulated intermediary, as they may
qualify for a reduced dividend tax rate or exemption. AVI's issued share capital at the declaration date is 336 504 469
ordinary shares. AVI's tax reference number is 9500/046/71/0. The salient dates relating to the payment of the dividends
are as follows:
Finalisation date Tuesday, 6 April 2021
Last day to trade cum dividend on the JSE Tuesday, 13 April 2021
First trading day ex dividend on the JSE Wednesday, 14 April 2021
Record date Friday, 16 April 2021
Payment date Monday, 19 April 2021
In accordance with the requirements of Strate Limited, no share certificates may be dematerialised or rematerialised
between Wednesday, 14 April 2021, and Friday, 16 April 2021, both days inclusive.
Dividends in respect of certificated shareholders will be transferred electronically to shareholders' bank accounts on
payment date. Following the discontinuation of cheque payments by most South African banks, AVI will no longer issue
cheques and all future payments will only be made into a nominated bank account by electronic funds transfer. Shareholders
who have not yet provided their bank account details to Computershare Investor Services Proprietary Limited are
reminded to contact Computershare on 0861 100 950 with their bank account details into which the dividends can be paid
electronically. Shareholders who hold dematerialised shares will have their accounts at their CSDP or broker credited on Monday,
19 April 2021.
By order of the Board
Gavin Tipper Simon Crutchley
Chairman CEO
8 March 2021
Sponsor
The Standard Bank of South Africa Limited
Date: 08-03-2021 07:37:00
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