Sygnia Limited’s H1 2023 Results: Growth in Assets and Increased Dividend Announcement

sygnia
  • Sygnia Limited reports H1 2023 financial results: assets under management reach R312.7 billion, revenue amounts to R408.6 million, and profit after tax slightly declines to R138.4 million.
  • The company declares an increased interim dividend of 87.0 cents per share, marking an 8.8% rise from the previous year.
  • Shareholders are advised of important dates related to the dividend payout, including the last day to trade, the ex-dividend date, the record date, and the payment date.

Sygnia Limited, a leading financial services company in South Africa, released its financial results for the six months ended 31 March 2023, accompanied by an announcement of an increased interim dividend. Despite a marginal decline in profit after tax, the company demonstrated growth in assets under management and administration, as well as revenue.

With assets under management and administration reaching R312.7 billion as of 31 March 2023, Sygnia showcased a 5.9% increase compared to the previous year’s R295.3 billion. The company’s continued growth was further evident in its revenue, which amounted to R408.6 million, marking a 2.8% rise from the same period last year (31 March 2022: R397.4 million).

Although profit after tax experienced a slight decrease to R138.4 million, down 0.5% from the previous year’s R139.1 million, Sygnia remained optimistic about its overall performance. The company’s headline earnings per share declined by 0.9% to 91.8 cents (31 March 2022: 92.6 cents), while diluted headline earnings per share saw a 0.3% decrease to 89.6 cents (31 March 2022: 89.9 cents).

In a move that pleased shareholders, Sygnia declared an interim dividend of 87.0 cents per share on 5 June 2023, reflecting an increase of 8.8% compared to the previous year’s interim dividend of 80.0 cents.

The interim dividend will be sourced from retained income and will result in a net dividend of 69.6 cents per share for shareholders after the deduction of dividends tax (DT). Shareholders are advised to take note of the important dates related to the dividend payout. The last day to trade shares with entitlement to the dividend is set for Tuesday, 20 June 2023. Shares will trade ex-dividend starting Wednesday, 21 June 2023, and the record date for the dividend is Friday, 23 June 2023. The dividend payment date is scheduled for Monday, 26 June 2023.

During the period between Wednesday, 21 June 2023, and Friday, 23 June 2023, inclusive, share certificates cannot be dematerialized or rematerialized. Dividends declared after 31 March 2012 are subject to dividends tax, with a local rate of 20%. Sygnia’s tax reference number is 9334/221/16/6.

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