Notes To The Financial Statements

12. DIVIDENDS

Ordinary Shares During the year ended 30 June 2021, the directors proposed that a dividend of MUR 3 (2020: MUR 3.80, 2019: MUR 1.65) per share to be paid to the holders of Ordinary shares with respect to the year ended 30 June 2020. The Board of Directors approved the dividend on 30 November 2020 and it was paid in June and July 2021. Total dividend paid is MUR 339M (2020: MUR 429M; 2019: MUR 186M).

Class A Shares On 25 February 2021, the Directors proposed and approved that an interim dividend of MUR 14.52 per share to be paid to the holders of Class A shares Series 1 and MUR 4.64 per share to be paid to holders of Class A shares series 2. The interim dividend amounted to MUR 66.2M and it was paid in July 2021.

In relation to the year ended 30 June 2020, the Board proposed a final dividend of MUR 15.90 per share to the holders of Class A shares Series 1 and MUR 4.37 per share to be paid to the holders of Class A shares Series 2. The Board of directors approved the dividends on 30 November 2020 and these were paid in February 2021. The total amount paid were MUR 66.7M.

The dividend paid in 2020 and 2019 were MUR 38.53 and MUR 38.15 per share to the holders of Class A Series 1 and MUR 8.79 and MUR 8.85 per share to the holders of Class A shares series 2 and amounted to MUR 147.4M and MUR 147.1M respectively.

Dividend in Specie

In November 2019, the Board approved the distribution of the shares of EKADA Capital Ltd (formerly known AfrAsia Capital Management Ltd). Following the approval from the Financial Services Commission and the Bank of Mauritius respectively, the Board declared the dividend in Specie of the shares of EKADA Capital Ltd in November 2020 and the distribution was completed in January 2021.