STRONG CASH FLOWS
AEEI dividend underscores bid for tech growth
CEO Khalid Abdulla says the interim payout shows the firm’s investment portfolio is generating strong cash flows
African Empowerment Equity Investments (AEEI) has underlined its ambitions to double its profits and assets by 2020 with a maiden interim dividend declaration for the six months to February. The interim payout surprised shareholders as AEEI, which listed in the late 1990s, started paying full-year dividends only in the 2015 financial year. Speaking at the release of the half-year results on Thursday, CEO Khalid Abdulla said AEEI’s decision to declare an interim payout of 2c per share showed the firm’s investment portfolio, which is anchored around recently listed Premier Fishing and the fast-growing technology hub, was generating strong cash flows. Cash flow from operating activities came in 8% higher at R35m, equivalent to roughly 7c per share. Abdulla said the successful listing of Premier Fishing on the JSE could spur plans to separately list the company’s technology investments under the newly created corporate brand of Ayo Technology Solutions — a hub that would include its 30%...