Highlights:

  • Low first-quarter payouts: In the first quarter, South Africa experienced a 24.3% year-on-year decline in dividends, following a 10.9% increase in Q4 2024. The Q1 2025 figures mark the lowest first-quarter dividend payouts of the past decade.
  • Concentration of payouts: The top five contributors—British American Tobacco (BTI), Kumba Iron Ore, AngloGold Ashanti, Gold Fields and Anglo American—accounted for 68% of total dividends in Q1 2025, with BTI alone contributing 38% of Q1 payouts.
  • Sector highlights: Traditionally dominant sectors—Tobacco, Metals & Mining, and Banking—continued to play significant roles, although the banking sector did not pay any dividends this quarter. The last such instance occurred in Q4 2020. Sectors with the highest year-on-year dividend growth were Capital Markets (+165%), Insurance (+66%), and Real Estate (+29%).
  • Special dividends plummet: Special dividends in Q1 2025 declined sharply by 68.3% year-on-year. This contrasts with a 79.6% year-on-year increase in 2024. Only three companies—Nepi Rockcastle (R3.81 billion), Trencor (R1.27 billion), and Life Healthcare Group (R1.03 billion)—issued special dividends in Q1 2025.

 

Complete the form below to download the report:

View our Privacy Policy for details on use and storage of your data
You have the ability to unsubscribe from future mailings at any time
  • 2 JUN 2025

    DivInsight - Q1 Report for 2025

    Read More
  • 25 FEB 2025

    DivInsight - Q4 Report for 2024

    Read More
  • 19 NOV 2024

    DivInsight - Q3 Report for 2024

    Read More