Telkom delivers healthy dividend as net profit jumps
Telkom put in a “solid performance” in a tough operating environment, delivering a 56% higher dividend for shareholders in the year to March 2017. The share jumped 5.32% by the close of trade on Monday. The result was boosted by the integration of the group’s cloud computing operation BCX and the “robust performance” of the mobile business. It declared a final dividend of R2.91, taking the total for the year to R4.22. In the 2016 financial year, Telkom paid only a final dividend of R2.70. “We made significant strides in a difficult operating environment characterised by regulatory uncertainty, increased competition and a weak economic environment,” Telkom CEO Sipho Maseko said.