INTRINSIC NAV FALLS
Remgro pushes up dividend payout
Investment giant’s private hospital subsidary Mediclinic International’s sharp drop in the share price was one of the factors affecting NAV fall
Investment giant Remgro, controlled by the Rupert family, nudged up the interim dividend payout despite a marked fall in intrinsic net asset value (NAV) in the six months to December. Results released on Thursday evening showed Remgro’s intrinsic NAV — the key performance gauge for an investment counter — down almost 16% to R257 a share after the sharp drop in the share price of key private hospitals subsidiary Mediclinic International. London Stock Exchange-listed Mediclinic is Remgro’s single biggest investment. But Remgro, which held a R9.8bn rights offer last year, pushed up the interim payout 5% to 194c a share.
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