Cash-flush Vivo Energy, which operates the Shell and Engen brands in 23 African countries, will increase dividend payouts to a minimum 50% of net income as it opts to reward shareholders while it waits for acquisition opportunities to emerge.

The company, which owns 2,330 retail sites across Africa but none in SA, saw a strong rebound in business in the second half of 2020, after the pandemic took its toll in the first six months to end-June 2020...

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