Swazi Empowerment Limited Declares E16.2 Million Dividend

By Ntokozo Nkambule

Swazi Empowerment Limited (SEL) has declared an interim dividend of Sixteen Million, Two Hundred and Eighty Thousand Emalangeni (E16, 280. 000) to ordinary shareholders registered as such in the company’s share register at the close of business on or before 7 March 2023.

The announcement by the investment holding company states that the dividend comprises eighty-eight (88) cents per share.

SEL is an investment holding company listed on the Eswatini Stock Exchange (SEL) and holds a 19% stake in MTN Eswatini.

“Payment of dividend is expected to be no later than 13 March 2023. Normal and withholding tax will be deducted from dividends paid to local shareholders and non-resident shareholders respectively, where applicable,” notes the announcement.

Worth noting is that SEL recorded a profit of E69 411 million for the year ended 31 March 2022. The company noted in those results that its increase in profit was due to increased dividends received from MTN Eswatini, resulting in an increase in earnings per share and dividends per share. 

Apart from the sizable stake in MTN Eswatini, the company has a number of other investments which comprise Bonds and Swaziland Building Society Permanent Shares.

The Public Service Pensions Fund (PSPF) has a majority stake in SEL, with a 78.3% equity holding.

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