DECLARED DIVIDEND
Steinhoff to pay out on preference shares
Steinhoff Investments, which is wholly owned by Steinhoff Holdings and was suspended by the JSE in early March, has declared a dividend of 414c on each of its 15-million preference shares for the six months to end-June 2018. The company announced that it was topping up the dividend payment by 10c a share to compensate the preference shareholders for the delay in paying the previous dividend, which was for the six months to end-December 2017. Steinhoff Investments had initially told preference shareholders that it would not pay a dividend for the six months to end-December 2017 because of "the ongoing situation faced by the group". In June Steinhoff Investments informed preference shareholders it had reviewed the decision and would pay a dividend for the end-December period. A dividend of 427.4c per preference share was paid in July. Analysts said the decision to resume the dividend payment was to ensure there were no restrictions on Steinhoff Investments passing on dividends receive...
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