eMedia Holdings’ Financial Fortitude: 2023 Resilience Amid Challenges, 18 Cents Dividend, and Market Leadership Shine

  • Financial Resilience: eMedia Holdings reported satisfactory financials, with a marginal revenue dip despite economic challenges like loadshedding and inflation.
  • Dividend Declaration: The board declared an interim cash dividend of 18.00000 cents per share, reflecting prudent financial management.
  • Market Leadership: eMedia remains the largest broadcaster in South Africa, showcasing resilience and stability amid economic uncertainties.
By Lethabo Ntsoane

eMedia Holdings Limited, South Africa’s major broadcaster, has released its unaudited consolidated condensed interim results for the period ending 30 September 2023. Despite economic headwinds, the company reports satisfactory financial performance.

Financial Overview

In the face of loadshedding, currency fluctuations, and inflation, eMedia Holdings weathered a challenging economic landscape. The company’s revenue stood at R1.51 billion, reflecting a marginal 0.8% decrease compared to September 2022. Operating profit recorded R190.49 million, a 4.4% decline from the previous year.

Impactful Economic Factors

Loadshedding, an erratic Rand, surging fuel prices, and escalating inflation created a formidable economic challenge. In response, interest rates were raised to counter inflation, affecting households and putting particular strain on the broadcasting sector, which relies heavily on utility stability.

Legal Challenges and Financial Resilience

Unexpectedly rising legal fees added pressure. eMedia’s strategy to challenge issues deemed fair to contest contributed to the uptick in legal expenses. However, despite these challenges, the company remains resilient.

Market Standing and Prospects

eMedia Holdings maintains its position as South Africa’s leading broadcaster. The company’s substantial market share positions it optimally for potential positive economic shifts.

Dividend Declaration

In a move reflecting prudence amidst economic uncertainties, eMedia Holdings’ board declared an interim cash dividend of 18.00000 cents per share for the period ending 30 September 2023. This marks a 14.3% decrease from the 21.00000 cents declared in 2022.

Dividend Details

Dividend per ShareWithholding Tax RateNet Final Dividend (Non-Exempt)Net Final Dividend (Exempt)
18.00000 cents20%14.40000 cents18.00000 cents

Shareholders are reminded to declare their status to regulated intermediaries for possible tax exemptions or reduced rates.

Important Dates

  • Last day to trade cum dividend: Monday, 11 December 2023.
  • Commence trading ex dividend: Tuesday, 12 December 2023.
  • Record date: Thursday, 14 December 2023.
  • Payment date: Monday, 18 December 2023.

During the period from 12 to 14 December 2023, share certificates may neither be dematerialised nor rematerialised.

CEO and CFO Perspectives

Mahomed Khalik Sherrif, eMedia Holdings’ Chief Executive Officer, remarked, “These results showcase our resilience in turbulent economic times. Our market share provides stability.”

Antonio Lee, the Financial Director, added, “Despite challenges, our financials remain robust. The dividend decision reflects a prudent approach amidst uncertainties.”


eMedia Holdings’ ability to navigate economic challenges, sustain market leadership, and declare dividends in a volatile landscape underscores its resilience. The company’s cautious financial approach and commitment to challenging fairness contribute to its standing as a key player in South Africa’s media landscape. Shareholders, eagerly anticipating the dividend payout, should take note of the important dates and tax considerations.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo