Altron CEO Werner Kap said a three-year strategic overhaul of the group had delivered strong financial compound earnings growth.
Altron’s share price leapt over 15% and it is paying out a R500 million special dividend after a three year strategic overhaul tripled headline earnings per share (HEPS) and shifted the group decisively towards its platform business.
The results for the year to February 29 generated a final dividend of 72 cents a share, a 44% increase on the final dividend last year, while the total dividend for the year ended 33% higher at 120 cents a share. In addition, a special cash dividend of 120 cents a share was declared.
The share price traded 15.3% higher at R27,22 on the JSE Monday morning - three years ago the share was priced at a lowly R7,15.
“The operational momentum established in the first half provided a solid foundation for an even stronger second-half performance. HEPS increased by 34% to 239 cents per share and was supported by the strong balance sheet and cash flow generation,” said the CEO, Werner Kapp, in a statement.
