Cashbuild hands out record dividend on huge cash pile as it rebuilds after riots
SA’s biggest building materials retailer to pay out its R665m profit to shareholders
Cashbuild shareholders who might be smarting from the company’s failure to land its key takeover target have received handsome compensation. SA’s biggest building materials retailer has decided to pay out all of its R665m in annual profit to shareholders.
With no immediate acquisitions on the table after a proposed R1.1bn acquisition of Pepkor’s The Building Company (TBC) was blocked by competition authorities, CEO Werner de Jager said the group opted to up its dividend payout to reflect an “exceptional year”...