06 Jul 2016

Botswana Telecommunications Corporation Limited (BTCL) has declared a dividend of 5 thebe per share despite incurring losses during the financial year ending March caused by impairment charges.

The corporation was listed on the Botswana Stock Exchange (BSE) in April, and the managing director, Mr Paul Taylor said his organisation was pleased with the dividends given that they have been trading in the local bourse for three months.

He said given that the shares were offered at P1 per share prior to listing, on Friday the BTCL shares were trading at P1.10 per share, hence they have declared 4.45 per cent of total shares.

BTCL, which Mr Taylor said now had 50 000 shareholders across the country, incurred losses of P371 million during the year under review, after netting a profit of P147 million in 2015.

The loss emanated from the unforeseen P522 million impairment costs.

Analysts have said investors should not press panic buttons as the company was doing fairly well as it was registering growth while the overall market was declining. ENDS