South African dividends rose 42% year‑on‑year in Q4, with payouts reaching R138 billion – the strongest end‑of‑year performance in recent years. This lifted full‑year dividends to R514 billion, up from 2024.
The quarter remained highly concentrated, with the top five payers delivering 67% of distributions. Sector trends also continued to shift, with banks gaining ground, metals & mining rebounding, and broader industry participation gradually increasing.
Key highlights:
- Q4 dividends up 42% to R138bn, the strongest Q4 on record.
- 2025 payouts reached R514bn, higher than 2024.
- Top 5 companies made up 67% of Q4 dividends.
- Dividend yields dipped as equity prices climbed, with the SWIX Top 40 at 2.59%.
- Banks and metals & mining strengthened, while broader sector participation continued.
- Special dividends fell 5.9%, but remain elevated versus pre‑2018 levels.
Download the Q4 DivInsight Report for a clear, practical breakdown of the trends shaping South Africa’s dividend landscape.
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