Sygnia Soars: Record-Breaking Growth and Dividend Triumphs in 2023, AGM Buzz Set for February 8

  • Financial Performance: Sygnia Limited reports strong growth with an 11.6% increase in assets, reaching R318.1 billion.
  • Dividend Declaration: Shareholders to receive a total dividend of 210.0 cents per share, reflecting the company's commitment.
  • Annual General Meeting: The AGM is scheduled for February 8, 2024, offering shareholders an opportunity to participate and vote.
By Lethabo Ntsoane

Sygnia Limited, a leading financial services company in South Africa, has announced its consolidated annual financial results for the year ending September 30, 2023. The company showcased strong financial performance, with notable increases in assets under management and administration, revenue, and profit after tax.

Financial Highlights:

  1. Assets Under Management and Administration: As of September 30, 2023, Sygnia reported a total of R318.1 billion, marking an impressive 11.6% increase from the previous year’s R285.1 billion.
  2. Revenue Growth: The company’s revenue stood at R843.9 million, up by 4.3% compared to the previous year’s R808.9 million.
  3. Profit After Tax: Sygnia achieved a profit after tax of R300.4 million, reflecting a robust growth of 4.5% from the previous year’s R287.4 million.

Earnings Per Share:

  • Basic earnings and headline earnings per share reached 198.9 cents, showing a 4.0% increase from 191.3 cents in 2022.
  • Diluted earnings and diluted headline earnings per share stood at 194.5 cents, up by 4.5% from the previous year’s 186.1 cents.

Dividend Declaration:

Sygnia’s commitment to rewarding shareholders is evident in the declaration of a total dividend per share of 210.0 cents, consistent with the previous year. The gross final dividend for the financial year ended 30 September 2023 is 123 cents per share, resulting in a net dividend of 98.4 cents per share for shareholders after Dividends Tax (“DT”). The dividend dates are as follows:

EventDate
Last day to tradeTuesday, 19 December 2023
Shares trade ex-dividendWednesday, 20 December 2023
Record dateFriday, 22 December 2023
Payment dateWednesday, 27 December 2023

Audit Opinion:

Mazars, the auditors, have issued an unmodified audit opinion on the consolidated annual financial statements for the year ended 30 September 2023, which includes communication of key audit matters. Shareholders can access the detailed audit opinion by contacting investorrelations@sygnia.co.za.

Integrated Report and Annual General Meeting:

  • The 2023 Integrated Report, along with the full consolidated annual financial statements, will be distributed to shareholders on December 4, 2023.
  • The annual general meeting is scheduled for Thursday, 8 February 2024, at 10:00 am in Cape Town.

For more information, shareholders can visit the company’s website www.sygnia.co.za

Conclusion

Sygnia Limited’s robust financial performance and commitment to shareholder rewards underscore its resilience in the ever-evolving financial landscape. With consistent growth in key financial indicators, the company remains a formidable player in the South African financial sector. Shareholders are encouraged to stay informed and actively participate in the upcoming annual general meeting to be held in February 2024.

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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