Key Points:
- Chobe Holdings, led by businessman Jonathan Gibson, to distribute $5.29 million dividend to shareholders.
- The dividend announcement comes after Chobe forecasts a 44-54% jump in annual profits.
- This highlights Chobe’s commitment to both reinvestment and rewarding shareholders for strong performance.
Chobe Holdings (Chobe), a tourism group chaired and partly owned by Botswana-based businessman Jonathan Gibson is set to distribute a total dividend of $5.29 million for the fiscal year ended Feb. 29, 2024.
The board recommended a final dividend of BWP71.88 million ($5.29 million), translating to BWP0.8 ($0.059) per share, according to a recent update.
Profit up, dividend declared
The $5.29-million dividend, to be paid from retained earnings, follows the board’s announcement that group profit before tax for the year ended Feb. 29, 2024, is expected to be 44- to 54-percent higher than BWP135.6 million ($10 million) reported for the previous fiscal year ended Feb. 28, 2023.
The earnings guidance builds on the group’s 2023 financial report, which showed revenue of BWP410.92 million ($30.32 million) and profit of BWP104.59 million ($7.71 million). Total assets stood at BWP550.76 million ($40.6 million), with retained earnings reaching BWP 259.04 million ($19.1 million).
Chobe Holdings under Gibson’s leadership
Chobe Holdings operates 12 ecotourism lodges and camps under various brands, including Desert & Delta Safaris, Chobe Game Lodge, Ker & Downey Botswana, and Sedia Riverside Hotel, on leased land in Northern Botswana and Namibia’s Caprivi Strip.
The group also controls Safari Air, a wholly-owned air charter operator servicing its camps and lodges, and North West Air Proprietary, which provides maintenance services to the group’s aircraft and third parties. Gibson, Chobe Holdings’ deputy chairman and one of the wealthiest investors on the Botswana Stock Exchange, holds 31,830,406 ordinary shares in the company.
While details regarding the company’s overall performance for the fiscal year ended Feb. 29, 2024, are awaited, the dividend announcement underscores the group’s commitment to balancing shareholder returns with its strategic growth plans.