The Saltzman family of South Africa have recorded a paper gain of R2.4 billion ($151.1 million) in the past 91 days, as shares in the South African retail pharmacy chain, Dis-chem, surged by 21.5 percent.
As of press time, Dec. 29, Dis-chem shares were trading at R35 ($2.194) per share, 1.8-percent higher than their opening price on the Johannesburg Stock Exchange this morning.
Dis-Chem Pharmacies is a leading pharmacy retail and healthcare group based in South Africa, Africa’s most industrialized economy.
Lynette and Ivan Saltzman, who founded the leading retail pharmacy chain in 1978, hold a joint 45.2-percent stake in the group, which amounts to a total of 388,758,184 shares.
Under the leadership of the Saltzman family, Dis-Chem has grown into a leading retail and healthcare group in the country with linked dispensaries, family clinics, wound care clinics and comprehensive self-medication centers.
The multimillion-dollar bump in the market value of their stake over the past three months can be linked to sustained buying interest in the group’s shares, as value investors acquired additional stakes in an effort to benefit from the group’s robust financial performance.
Since Sept. 29, the group’s share price has increased from R28.79 ($1.805) to R34.99 ($2.194) thanks to sustained buying interest in its shares.
As a result, the market value of the Saltzman’s stake has increased from R11.2 billion ($701.7 million) on Sept. 29 to R13.6 billion ($852.8 million) as of the time of writing.
This translates to a R2.4-billion ($151.1 million) gain for the multimillionaire family in three months.
Since the year began, the Saltzman family has recorded a 66.5-percent gain in its stake. This translates to a $340-million bump for the family since the start of the year.
Aside from the year-to-date gains in their stake, Lynette and Ivan Saltzman earned a total dividend of R75.8 million ($4.9 million) from their joint 45.2-percent stake in the company.