DivInsight Report for Q4 2024

Highlights:

  • Check circle iconConcentration of Payouts: The top five contributors—British American Tobacco (BTI), FirstRand, Vodacom, Prosus, and Exxaro—accounted for 57% of total dividends in Q4 2024, with BTI alone contributing 31% of Q4 payouts.
  • Check circle iconSector Highlights: Tobacco, Banking, and Metals & Mining led payouts in 2024, contributing R121.6bn, R76.3bn, and R55bn, respectively. Food Products and Real Estate Management saw exceptional Q4 growth, exceeding 100%, while Metals & Mining experienced a 13.3% decline due to weaker commodity markets.
  • Check circle iconSpecial Dividends Surge: Special dividends surged by 76.9% year-on-year in 2024, driven by Prosus (PRX) in Q4 2024, which contributed R4.78bn (70% of the total).
  • Check circle iconAnalysts’ Insights and Dividend Outlook for 2025: Investment analysts anticipate a steady dividend recovery in 2025, driven by favorable local economic conditions and undervalued equities. However, external factors such as global macroeconomic shifts and Trump’s policies also are expected to influence South African stocks.

 

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