Highlights:

  • Check circle iconStrong second-quarter performance: In Q2 2025, South Africa recorded a significant 26.0% year-on-year increase in dividends, rebounding from a 24.3% decline in Q1 2025.
  • Check circle iconDiversified dividend distribution: The five largest contributors to dividends in Q2 2025 – British American Tobacco, Valterra, Standard Bank, FirstRand, and Sanlam – accounted for 52% of total payouts, down from 68% in Q1.
  • Check circle iconDividend growth rates: South African companies posted a robust quarter-on-quarter dividend increase of 95.7% in Q2 2025, while locally listed companies recorded a growth of 36.3%.
  • Check circle iconSpecial dividends surged: Special dividends in Q2 2025 increased significantly to R21.9bn, rising from R6.1bn in Q1. Valterra accounted for the majority of this amount with R15.7bn.
  • Check circle iconSector growth: The banking sector rebounded strongly, paying R42.3bn in divdends after no payouts in Q1. Specialty retail (+109.0%), metals & mining (+56.3%), and capital markets (+35.1%) posted the highest year-on-year growth in H1.

 

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