Dividend payments have never been a main attraction at agribusiness investor Zeder, but the generous 22% hike in the year-to-end-February distribution to shareholders suggests directors were in strident mood. This confidence may appear curious considering recent events that have rendered local economic prospects more brittle — particularly since the agricultural sector has only now starting to recover from a prolonged drought. But there does seem to be a good chance of a bumper harvest from the larger parts of Zeder’s portfolio in the months ahead. The company’s biggest investment — the more than R10bn stake in Pioneer Foods — may undergo a major transformation. Pioneer is under cautionary, which has led to speculation that a sizeable offshore deal is in the offing.
The upcoming listing of 39.4%-owned farmers’ retailer Kaap Agri on the JSE should also be a major event. Kaap Agri has enjoyed strong profit growth on the back of a successful diversification into new retail format...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.