Namibian tycoon Koos Brandt to pocket $2.48 million in dividends from Capricorn Group

Namibian multimillionaire Jacobus “Koos” Brandt is set to pocket NAD35.97 million ($2.48 million) in dividends from his ownership interest in Capricorn Group Limited, a Namibia-based investment holding.

Capricorn Group is a financial services group with an operational footprint in Botswana and Zambia through its subsidiaries in banking, micro-lending, property development and unit trust and asset management.

Its flagship brand is Bank Windhoek. It is the largest locally-owned bank and the second-largest commercial bank in Namibia.

At the end of its 2021 financial year, the board of directors declared a final dividend of NAD0.38 ($0.0263) per share, payable to its shareholders on Oct. 22.

This represents a total dividend payout of NAD0.60 ($0.0415) per share to shareholders this year, considering the interim dividend of NAD0.22 ($0.0152) per share that they received earlier in 2021.

Just like other shareholders who would benefit from the dividend distribution, Brandt, a non-executive director in the group with a beneficial 18.52-percent stake, is expected to receive a dividend of NAD35.97 million ($2.48 million) on Oct. 22.

The dividend payment further strengthens the group’s tradition of rewarding shareholders with impressive cash distribution as it continues to leverage opportunities in its operating environment to create value for all stakeholders.

At the end of its 2021 financial year, Capricorn Group posted a profit of NAD983 million ($68 million) despite a challenging operating environment. This translates to a growth of 15 percent when compared to the profit NAD856 million ($59.2 million) that it posted in 2020.

As of press time, shares in the Namibia-based group were trading at NAD13.24 ($0.916) on the local bourse.

At this price valuation, the market value of Brandt’s stake is worth NAD1.25 billion ($86.4 billion).