Mahube’s Mega Growth: Doubled Dividends, Soaring Revenue, and a 47.8% Earnings Surge in 2023 Q2

  • Financial Triumph: Mahube Infrastructure reports stellar results with dividends doubling to R23.0 million and total revenue surging by 38.8%.
  • Earnings Surge: Earnings per share rise to 47.8 cents, reflecting Mahube's strategic prowess and effective infrastructure investments.
  • Dividend Delight: Mahube declares an interim gross dividend of 35.00000 cents per share, underscoring its commitment to shareholder value.
By Lethabo Ntsoane

In a significant financial stride, Mahube Infrastructure Limited, formerly known as GAIA Infrastructure Capital Limited, has unveiled impressive interim financial results for the six months ending on August 31, 2023. The company, listed on the Johannesburg Stock Exchange (JSE) under the code MHB, demonstrated robust performance, showcasing substantial growth in dividends, revenue, and earnings.

Stellar Financial Performance

Dividends Surge and Revenue Soars

Mahube reported a substantial increase in dividends received, soaring to R23.0 million, more than doubling the R11.0 million recorded in the comparative period last year. This surge is reflective of the company’s commitment to delivering value to its investors.

Total revenue for the same period witnessed a remarkable surge of 38.8%, reaching R33.3 million compared to R24.0 million in the corresponding period last year. This growth underscores Mahube’s ability to navigate the evolving infrastructure landscape in Southern Africa successfully.

Earnings Per Share Hit 47.8 Cents

Investors have reason to celebrate as Mahube’s basic earnings and headline earnings per share rose to 47.8 cents, a substantial increase from the 29.0 cents reported in the same period last year. This surge in earnings signifies the company’s effective management and strategic investment decisions.

Infrastructure Investment Portfolio

Mahube’s strategic focus on infrastructure assets in Southern Africa has yielded promising results. The company holds equity interests in two wind farms and three solar photovoltaic farms, collectively boasting a power generation capacity of approximately 400 MW. These assets, licensed during Bid Window Rounds 1 and 2 of the Renewable Energy Independent Power Procurement Programme in South Africa, contribute to Mahube’s vision of sustainable infrastructure development.

Dividend Declaration and Key Dates

The Board of Mahube is pleased to announce the declaration of an interim gross dividend per ordinary share of 35.00000 cents for the six months ending August 31, 2023. Shareholders can expect to receive a net cash dividend amount of 28.00000 cents per ordinary share.

Key Dividend Dates

Tuesday, 2 January 2024Last day to trade cum the ordinary share dividend
Wednesday, 3 January 2024Ordinary shares commence trading ex-dividend
Friday, 5 January 2024Ordinary share dividend record date
Monday, 8 January 2024Payment date of ordinary share dividend

It’s important to note that dividends are subject to a Dividends Withholding Tax at a local rate of 20%. The gross dividend amount is 35.00000 cents per ordinary share.

Positive Outlook and Future Prospects

Mahube’s commitment to providing investors with predictable and regular cash flows from infrastructure assets is evident in its financial performance. The company’s vision to contribute to the fast, inexpensive, and sustainable delivery of infrastructure remains a driving force. With an impressive tangible Net Asset Value (NAV) per share and a focus on disruptive solutions, Mahube is well-positioned for sustained success in the dynamic infrastructure sector.

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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: Twitter: @NtsoaneLethabo