PSG Konsult to deploy R2bn war chest for more share buybacks
CEO Francois Gouws says the group will maintain its high dividend payout but share buybacks are also on the cards as it shuns acquisitive growth
PSG Konsult plans to use its more than R2bn war chest to buy back more shares and maintain its attractive dividend distribution as it continues to shun acquisitions in favour of organic growth.
The investment and insurance holding company said in its annual results on Thursday cash and cash equivalents, including money market investments, jumped 18% to more than R2bn in the year to end-February. That will allow it to continue buying back shares as part of its capital optimisation strategy while maintaining a high dividend payout ratio, which the group’s board has raised to 60% from 46% in the latest financial year...
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.