Wrap Text
Results for the year ended 30 June 2021 and final 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 YEAR ENDED 30 JUNE 2021, AND FINAL DIVIDEND
Key statistics and features
% change
Revenue 0,5
Gross profit (1,6)
Operating profit 3,2
Headline earnings 6,4
Headline earnings per share 6,2
Earnings per share (15,7)
- Group revenue increased by 0,5%;
- Operating profit increased by 3,2%;
- Selling and administrative costs declined by 5,4%;
- COVID-19:
- Mixed impact on demand;
- Additional costs of R24 million;
- Selling price increases taken to offset higher raw material costs in most categories;
- Improved second semester from I&J;
- Net finance charges 40% lower;
- Headline earnings per share up 6,2% to 499,9 cents;
- Sustained strong cash generation;
- Final dividend of 275 cents per share, normal dividends up 6,1%;
- Special dividend of 280 cents per share brings total dividends for the year to 715 cents.
This short-form announcement is the responsibility of the directors, and 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/AVIF21.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.
Report of the independent auditors
The summarised consolidated financial statements for the year ended 30 June 2021 have been audited
by Ernst & Young Inc., who expressed an unmodified opinion thereon. The auditor also expressed an
unmodified opinion on the annual consolidated financial statements from which the summarised consolidated
financial statements were derived. The annual consolidated financial statements and auditor's report,
including key audit matters, are available on the Company's website http://www.avi.co.za
Final dividend
Notice is hereby given that a gross final ordinary dividend No 98 of 275 cents per share for the year
ended 30 June 2021 has been declared payable to shareholders of ordinary shares. The dividend has been
declared out of income reserves and will be subject to dividend withholding tax at a rate of 20%.
Consequently a net final dividend of 220 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 dividend are as follows:
Last day to trade cum dividend on the JSE Tuesday, 19 October 2021
First trading day ex dividend on the JSE Wednesday, 20 October 2021
Record date Friday, 22 October 2021
Payment date Monday, 25 October 2021
In accordance with the requirements of Strate Limited, no share certificates may be dematerialised
or rematerialised between Wednesday, 20 October 2021, and Friday, 22 October 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, 25 October 2021.
By order of the Board
Gavin Tipper Simon Crutchley
Chairman CEO
6 September 2021
Sponsor
The Standard Bank of South Africa Limited
Date: 06-09-2021 07:05:00
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