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Financial results for the year ended 30 November 2023, dividend declaration number 73 and changes to the board
HUDACO INDUSTRIES LIMITED
("Hudaco" or the "Company")
Incorporated in the Republic of South Africa
Registration number 1985/004617/06
Share code: HDC
ISIN: ZAE000003273
FINANCIAL RESULTS FOR THE YEAR ENDED 30 NOVEMBER 2023, DIVIDEND DECLARATION NUMBER 73 AND
CHANGES TO THE BOARD
Salient features
30 November 30 November %
2023 2022 change
Revenue (Rm) 8 897 8 151 9.1
Operating profit before fair value adjustments (Rm) 1 071 1 019 5.1
Profit for the year (Rm) 669 675 (0.8)
Comparable earnings per share (cents) 2 148 1 951 10.1
Headline earnings per share (cents) 2 148 2 007 7.0
Basic earnings per share (cents) 2 142 2 007 6.7
Dividends per share (cents) 1 025 925 10.8
Net asset value per share (cents) 11 571 10 647 8.7
Auditor's review
The salient features above have been extracted from the group condensed financial statements for the year ended
30 November 2023 ("condensed financial statements") that have been reviewed by Deloitte & Touche, who have
expressed an unmodified review conclusion.
Declaration of final dividend number 73
Final dividend number 73 of 700 cents per share (2022: 625 cents per share) is declared payable on Monday, 4 March
2024 to ordinary shareholders recorded in the register at the close of business on Friday, 1 March 2024.
The timetable for the payment of the dividend is as follows:
Last day to trade cum dividend Tuesday, 27 February 2024
Trading ex dividend commences Wednesday, 28 February 2024
Record date Friday, 1 March 2024
Payment date Monday, 4 March 2024
Share certificates may not be dematerialised or rematerialised between Wednesday, 28 February 2024 and Friday,
1 March 2024, both days inclusive. The certificated register will be closed for this period.
In terms of the Listings Requirements of the JSE Limited regarding the Dividend Tax, the following additional
information is disclosed:
• the dividend has been declared from income reserves;
• the dividend withholding tax rate is 20%;
• the net local dividend amount is 560 cents per share for shareholders liable to pay the Dividend Tax and 700
cents per share for shareholders exempt from the Dividend Tax;
• Hudaco Industries Limited has 30 895 980 shares in issue (which includes 2 507 828 treasury shares); and
• Hudaco Industries Limited's income tax reference number is 9400/159/71/2.
Changes to the board
Daisy Naidoo will retire from the board of directors following the annual general meeting to be held on 27 March
2024.
Pursuant to the above, the following changes will be effective after the forthcoming annual general meeting to be
held on 27 March 2024:
- Mark Thompson will assume the role of lead independent non-executive director;
- Bukelwa Bulo, who was appointed to the board on 22 June 2023, will assume the roles of chairman of the audit
and risk management committee, and member of the remuneration committee and the social and ethics
committee;
- Nyami Mandindi will step down as a member of the remuneration committee and become a member of the
nomination committee; and
- Ernie Smith will replace Louis Meiring as a member of the social and ethics committee.
Short-form announcement
This short-form announcement is the responsibility of the directors of Hudaco and has not been audited or reviewed.
It is only a summary of the information contained in the condensed financial statements and does not contain full or
complete details. Any investment decisions by investors and/or shareholders should be based on consideration of the
condensed financial statements published on the JSE website at
https://senspdf.jse.co.za/documents/2024/jse/isse/HDC/ye2023.pdf.
The condensed financial statements are available on the Company's website (www.hudaco.co.za) and copies may be
requested from the Company at megan@hudaco.co.za or inspected at the registered office of the Company, at no
charge, during office hours.
1 February 2024
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 01-02-2024 05:30:00
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