Vivo flags dividend after saying operating profit should beat market expectations
The group says it saw a good recovery in demand in the second half of its year to end-December, and should pay a dividend
12 February 2021 - 11:09
JSE-listed Vivo Energy, which operates the Shell and Engen brands in 23 African countries, expects operating profits in its year to end-December 2020 to beat analyst forecasts after demand picked up in the wake of easing Covid-19 restrictions.
In a trading update, Vivo said strong trading in its final quarter has continued into the new year, and that it intends to recommend a 2020 dividend of 3.8 dollar cents, which is in line with the 2019 dividend, and represents a payout of $48m (R705m)...
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