Forecast and Financial Ratios
| Revenue (Mil) (FY) | 2,187.25 |
| EBIT (Mil) (FY) | 687.13 |
| EBIT (Mil) (MRQ) | 273.30 |
| EBIT (Mil) (TTM) | 687.13 |
| EBITDA (Mil) (FY) | 888.97 |
| EBITDA (Mil) (MRQ) | 384.88 |
| EBITDA (Mil) (TTM) | 888.97 |
| Net Income Excluding Extraordinary Items (Mil) (FY) | 699.98 |
| Net Income Including Extraordinary Items (Mil) (FY) | 695.11 |
| Diluted EPS Excluding Extraordinary Items (FY) | 8.22 |
| Diluted EPS Including Extraordinary Items (FY) | 8.17 |
Dividend Policy
In accordance with the JSE’s dividend policy, the practice has been to return distributable cash to shareholders after ring fencing cash for regulatory capital requirements and investment (CAPEX and inorganic opportunities).
The ordinary dividend of 725 cents per share for 2020 represents a progressive 5% increase in nominal terms and translates into an ordinary dividend pay-out ratio of 83% (2019: 87%). The Board resolved to adjust the Group's dividend policy to reflect a pay-out ratio of 67% to 100% of current earnings. The previous pay-outrange was 40% to 67% of current profits, and the widened rangereflects the fact that cash generated exceeds NPAT, largely as a consequence of the technology investments in previous years.
This trend is expected to continue for the next few years.
| Dividend Declared | ||
|---|---|---|
| Year | Dividend (Cents) | |
| 2009 | 192 | |
| 2010 | 210 | |
| 2011 | 250 | |
| 2012 | 250 | |
| 2013 | 400 | (350 plus 50 special dividend) |
| 2014 | 480 | (400 plus 80 special dividend) |
| 2015 | 625 | (520 plus 105 special dividend) |
| 2016 | 560 | |
| 2017 | 605 | |
| 2018 | 840 | (655 plus 185 special dividend) |
| 2019 | 840 | (690 plus 150 special dividend) |
| 2020 | 725 | No Special dividend declared |
Analyst Coverage
| Firm | Analyst | |
|---|---|---|
| Avior | Sabena Omar | [email protected] |
| RMB Morgan Stanley | Teboho Mosoeu | [email protected] |
JSE Limited is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding JSE Limited's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of JSE Limited or its management. JSE Limited does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.