PSG Konsult raises dividend by double digits
The group says its investment in software systems has paid off
Financial services group PSG Konsult, which is headed by Francois Gouws, raised its total dividend by double digits in its year to end-February, saying it is beginning to see the benefits of investment in systems such as software used for trading.
The group said it has invested about R1bn in systems and processing over the past five years, but only began seeing benefits in its year to end-February.
“It’s a salutary reminder that the benefits from long-term investments take time and require both confidence and patience,” the group said.
Profit for the year rose 10% to R707m in its year to end-February. The group raised its total dividend 10% to 22.5c.
In afternoon trade, PSG’s share price was down 5.19% to R7.30.
Update: April 14 2020
This article has been updated by comment and financial information.