Curro aims to reward shareholders
The education group targets a maiden dividend as profit and earnings increase
Shareholders in rapidly growing private education company Curro Holdings could receive a maiden dividend payout in early 2019. Speaking after the release of its results for the year to end December, Curro CEO Chris van der Merwe said the company was keen to reward shareholders that had supported the business in its formative years. "We are confident of a [maiden] dividend payment in the near future … most likely at the end of the 2018 financial year if everything goes to plan," he said. The results confirmed Curro’s ambitious growth plans, which entail 80 campuses and 200 schools by 2020 as well as accommodating 80,000 pupils by the end of 2017, are firmly on track. Curro reported a 69% increase in bottom line profit to R169m, with headline earnings stretching 55% to 43.9c per share (with additional shares after a rights issue in 2016). The performance goes some way in justifying Curro’s dizzy market rating, which reflects a trailing earnings multiple of more than 100 times. Vunani ...
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