Ayo almost doubles interim dividend despite swing into losses
The technology company has declared a dividend for the period of R223m despite incurring an after-tax loss of R87m
Ayo Technology Solutions, the listed technology company indirectly controlled by businessman Iqbal Survé, has ramped up its interim dividend despite incurring losses for the six-months to end-February.
The company announced via a Sens statement on Tuesday that it will increase its interim dividend by 86% to 65c per share for the period, amounting to a gross dividend of R223.6m. The majority of the dividend (R111.5m) will accrue to entities such as Ayo’s parent company, African Equity Empowerment Investments (AEEI), that is also indirectly controlled by Survé...