Remgro, the JSE-listed investment group led by prominent South African businessman Johann Rupert, has announced a special dividend of 200 cents per share. This move brings the total payout to shareholders for the year to approximately R3.09 billion.
The declaration of the special dividend follows the successful sale of its stake in British American Tobacco and strong performances from nearly all of Remgro’s investee companies. This special dividend is in addition to the total annual dividend, which has risen by 30.3% to 344 cents per share compared to the previous year.
As of June 30, 2025, Remgro’s intrinsic net asset value per share increased by 16.5%, reaching R292.34, up from R251.01 a year earlier. The closing share price on that date was R158.20, reflecting a discount of 45.9% to the intrinsic net asset value, slightly up from 45.8% the previous year.
On Tuesday morning, the share price traded 1.9% higher at R177.01, marking a 15.8% gain over the past year.
The CEO, Jannie Durand, expressed satisfaction with the progress made, noting that their strategic interventions are starting to reveal the value within their portfolio. The focus on a more streamlined investment strategy is beginning to yield positive results.
Durand also highlighted improvements in business confidence in South Africa, attributed to structural reforms from Operation Vulindlela. However, he acknowledged ongoing pressure on consumers, despite recent monetary policy easing. The stability of energy supply has been a notable positive factor.
Headline earnings per share increased by 38.4% to R14.09, reflecting sustained growth momentum within the group’s investments during the second half of the year. More than 80% of Remgro’s portfolio recorded growth in headline earnings over the year.
The leadership team, including Rupert and Durand, expressed their contentment with the progress against strategic priorities, believing that a clearer investment thesis is emerging from these results.