Namibia’s Tromp family will earn $467,194 (NAD6.69 million) in dividends from their stake in Nictus Holdings Limited on July 26.
The Namibia-based diversified investment holding operates the General Motors (GM) franchise in Namibia. The company reported a four-percent increase in revenue from $44.12 million (NAD631.06 million) in 2019 to $45.91 million (NAD656.65 million) in 2020, thus demonstrating solid performance and resilience in a challenging year.
The revenue growth is linked to well-optimized systems and operational efficiency, focusing on higher-yielding products, which led to exceptional results for the group.
In reaction, Nictus Holdings’ profits increased by 147 percent to $1.27 million (NAD18.15 million) on the back of improved profit margins and earnings power.
This impressive financial performance made the group’s board approve a final dividend payment on June 15 of $0.0126 (NAD0.18) per share on all issued ordinary shares, or $671,705 (NAD9.62 million).
Aside from owning the majority stake in Nictus Holdings, family members Gerard, Philippus and the late Nicolaas Tromp have all played significant roles in running the diversified investment company.
The Tromp family’s total shareholding in the Namibia-based holding is worth $4.67 million (NAD66.91 million). This represents 68.82 percent, or 36,777,845 units of the total issued shares of the group.
The family’s equity stake in the investment holding will set them on course to earn a dividend of $467,194 (NAD6.69 million) from Nictus’ profits in 2020.
The Tromps founded Nictus Holdings in 1945. The company has since grown into an regional leader, with core business operations headquartered in southwestern Africa and an asset base of $129.34 million (NAD1.85 billion).
As of press time, 11:45 am (UTC+1) today, Nictus’s shares on the Namibian Stock Exchange were trading at $0.126 (NAD1.8), while its market capitalization was valued at $6.72 million (NAD96.20 million).
