Famous Brands has pressed pause on dividend payments for the first time in 13 years after a full-year trading period punctuated by seven acquisitions — one of which was the group’s largest to date. The CEO of the restaurant franchising group, Darren Hele, said that barring significant changes in the company’s outlook and fortunes, the group would resume dividends in the 2018 financial year. “This doesn’t mean that we are changing strategy. We will always be acquisitive by nature, but it is unlikely that we will have a year like the one we just had,” Hele said. “The new financial year won’t see the same kind of activity. We are mindful of paying dividends, but if a great acquisition comes our way, we won’t say no. Ultimately, it is a balancing act.” At the close of the JSE on Monday, the Famous Brands share price had risen 1.91% to R127.90, valuing the company at about R12.9bn. Avior Capital Markets analyst De Wet Schutte said the company’s results had shown an all-round solid perfor...
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