Pepkor expects to hold on to full-year dividend
The group says Covid-19 has added more pressure on consumers already hit by load-shedding and low economic growth
Pepkor is unlikely to pay a full-year dividend as it battles the Covid-19 fallout, says the group, which includes Pep, Ackermans, Incredible Connection and Timbercity. It had declared a dividend amounting to R721m in its year to end-September 2019.
On Wednesday Pepkor said SA consumers have already been under pressure from load-shedding, high unemployment, and weak economic growth before the Covid-19 pandemic hit. Headline earnings per share (Heps) decreased by 13.6% to 44.3c per share in its six months to end-March, with the group reporting that debtor’s costs have jumped to R868m from R273m previously, partially due to increased bad debts...
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