Mauritian businessman Guillaume Dalais is set to earn a MUR6.8-million ($158,600) dividend from the Mauritius-based conglomerate CIEL Limited.
The dividend will be paid from the group’s full-year profits of MUR446 million ($10.45 million) for the financial period ending on June 30, as its operations continued to benefit from cost strategies and a strong recovery in its businesses across all sectors outside hospitality and tourism.
CIEL is a Mauritian conglomerate operating in more than 10 emerging and developing economies across Africa and Asia.
The group operates in five business clusters in Mauritius, Africa and Asia through its subsidiaries, including CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile and CIEL Healthcare.
Dalais, a director in the group and the son of Chairman Arnaud Dalais, holds a beneficial stake in the company directly and indirectly through associates.
On Sept. 29, in consideration of the marked improvement in the group’s financial performance and its strong capital position, CIEL declared an interim dividend of MUR0.05 ($0.001174) per share relating to the period.
The dividend, which will be paid on Oct. 29, will see the young director earn a total MUR6.8 million ($158,600) in dividends from his stake.
Since early October 2021, the youngest director on the group’s board, has seen the market value of his stake increase by MUR154 million ($3.6 million) as investors digest its financial results.
This was due to a 20.2-percent jump in the group’s stock price on the Stock Exchange of Mauritius between Oct. 1 and 8.
With the shares of CIEL valued at MUR6.78 ($0.01649), Dalais derives a MUR915.9-million ($21.5 million) valuation from his equity stake in the group.