COMPANY COMMENT
Time for Rupert’s Reinet to pay out more generous dividends?
With its net asset value at R88bn, likely due to BAT, shareholders may be wont to light up a celebratory cigar
The sheer size of a nearly R11bn quarterly gain in Reinet’s net asset value (NAV) might raise a few eyebrows in the market. On Wednesday, the Rupert family-controlled investment company reported an NAV of €5.5bn (R88bn) for the quarter ending December — a sprightly gain of €684m over the quarter to end-September.
With Reinet not releasing a detailed breakdown of the NAV, it seems safe to assume that the 14% gain was largely driven by Reinet’s shareholding in British American Tobacco (BAT). The BAT share price increased about 11% between end-September and end-December last year on the London Stock Exchange … and there would have been a generous quarterly dividend to boot...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.