Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078
Sygnia Limited Reports 9.7% Increase in Earnings, Declares 90.0 Cents Dividend | Rateweb
Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078

Sygnia Limited Reports 9.7% Increase in Earnings, Declares 90.0 Cents Dividend

Sygnia Limited announced robust financial results for the first half of 2024. The company posted significant growth across key metrics, showcasing resilience in a dynamic market.

Financial Highlights

Sygnia’s assets under management and administration increased by 9.1% to R341.3 billion as of March 31, 2024. This growth reflects strong market performance and effective management strategies.

Revenue for the six months ended March 31, 2024, rose by 8.7% to R444.2 million. The company’s profit after tax climbed 10.2% to R152.5 million, underscoring effective cost management and operational efficiency.

Earnings Per Share

Basic earnings and headline earnings per share increased by 9.7% to 100.7 cents. Diluted earnings and diluted headline earnings per share grew by 10.5% to 99.0 cents. These figures highlight the company’s strong earnings potential and shareholder value creation.

Dividend Declaration

Sygnia declared an interim gross dividend of 90.0 cents per share on June 4, 2024. This results in a net dividend of 72.0 cents per share after deducting dividends tax (DT). The dividend dates are as follows:

DateDescription
Tuesday, June 25, 2024Last day to trade
Wednesday, June 26, 2024Shares trade ex-dividend
Friday, June 28, 2024Record date
Monday, July 1, 2024Payment date

Shareholders should note that share certificates cannot be dematerialized or rematerialized between June 26 and June 28, 2024.

Detailed Financial Performance

Sygnia’s financial performance for the period demonstrates solid growth. Below is a comparison of key metrics between March 31, 2024, and March 31, 2023:

Metric20242023Change
Assets under management (R billion)341.3312.7+9.1%
Revenue (R million)444.2408.6+8.7%
Profit after tax (R million)152.5138.4+10.2%
Basic earnings per share (cents)100.791.8+9.7%
Diluted earnings per share (cents)99.089.6+10.5%

These figures indicate robust growth and effective operational strategies by Sygnia’s management.

Conclusion

Sygnia Limited’s first half of 2024 financial results highlight strong growth and operational efficiency. The company remains committed to delivering value to its shareholders through strategic initiatives and disciplined management. Investors are encouraged to review the full financial statements for comprehensive details on Sygnia’s performance and future outlook.