Thin trading, but there are no plans to delist for TeleMasters
TeleMasters will continue paying out dividends. This is despite the strain on its cash flow. Since its listing, the group has had a reputation for paying out dividends on a quarterly basis, but fears arose that it would have to bring this to an end after cash generated from operations went from about R590,000 to a negative R973,000 in the three months to end September. It did, however, pay out a quarterly dividend of 0.5c/share, despite cash and cash equivalents at the end of period slumping from R6.5m to R2.3m. TeleMasters founder and CEO Mario Pretorius says the group is committed to paying out regular dividends. This does not mean TeleMasters is not prepared to prune its payments to shareholders — its quarterly dividend used to be 1c/share — to keep some cash in the bank. " Pretorius says. The group had a reputation for holding onto its existing clients rather than winning over new contracts. A sales drive changed this over the past year, but Pretorius says several of its new cli...
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