Home » South African billionaire Patrice Motsepe to pocket $67.1 million dividend from ARM

South African billionaire Patrice Motsepe to pocket $67.1 million dividend from ARM

by Feyisayo Ajayi
Patrice Motsepe

South African billionaire Patrice Motsepe is set to receive a hefty R1.24 billion ($67.1 million) dividend payout from African Rainbow Minerals (ARM) following the company’s exceptional financial performance in the first half of the 2023 fiscal year.

ARM is a South African mining and minerals company with strategic positions in a variety of mining projects covering iron, coal, copper, gold, platinum, and other precious metals. Patrice Motsepe who founded ARM in 1997 owns a 39.7-percent stake in the diversified mining group.

His stake in the leading mining group is now worth more than $1.3 billion, accounting for the majority of his fortune.

The dividend which will be paid directly into Motsepe’s account from ARM’s retained earnings represents a significant portion of the dividend approved by the board of directors of the South Africa-based diversified mining group.

According to recently released interim results, ARM at the end of the first half of its 2023 fiscal year, reported a 40-percent increase in its profit from R3.69 billion ($203.1 million) in the first half of its 2022 fiscal year to R5.17 billion ($284 million).

The double-digit increase in the group’s earnings during the first six months of its 2023 fiscal year can be attributed to the surge in revenue from R7.7 billion ($423.8 million) to R9.37 billion ($515.7 million), thanks to higher coal and manganese prices in the global commodity market.

As a result of its financial performance, the board proposed a gross dividend of R14 ($0.77) per share for the six months that ended on Dec. 31, 2022.

Motsepe, based on his 39.7-percent stake in the group, is projected to receive a dividend of R1.24 billion ($67.1 million). As the largest shareholder, this payout represents a significant return on his investment in the company.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.