South African businessman Petrus Johannes (Piet) Mouton is on track to receive R93.6 million ($5.2 million) in interim dividends from his stake in Capitec Bank, similar to billionaire banker Michiel Le Roux, who is also expected to pocket millions of dollars in interim dividends from the the leading lender.
The $5.2-million interim dividend he is set to receive will be paid from the bank’s retained earnings of R29.54 billion ($1.66 billion).
The interim dividends will be paid into Mouton’s bank account, as well as the bank accounts of entities related to him on Mon., Oct. 24, as part of a total dividend payout approved by the group’s board of directors of R1.62 billion ($89.78 million).
Capitec Bank is a leading South African bank with one of the country’s largest customer bases. It presently operates 856 branches and 7,436 ATMs across South Africa.
Mouton, a prominent businessman who heads PSG Group, a South African investment holding founded by his father, Jannie Mouton, in 1995, owns 5.78 percent of Capitec Bank, or 6,685,622 shares.
Capitec Bank has grown into the world’s most reputable banking brands since its founding 20 years ago by Jannie Mouton, Michiel Le Roux, and Riaan Stassen, providing transactional banking and loan products such as term loans, credit facilities, and credit cards.
The group’s interim financial result, which was published on Sept. 29 during trading hours, shows that its profit increased by 19 percent, from R3.92 billion ($217.7 million) in the first half of 2021 to R4.67 billion ($259 million).
The double-digit percent increase in profit can be attributed to the banking group’s principal operations, as interest income on loans rose by 13 percent from R6.57 billion in the first six months to R7.43 billion ($412 million), driven by a 35-percent increase in loan sales and disbursements from R19.7 billion ($1.1 billion) to R26.5 billion ($1.47 million).
As of press time, shares in the group were trading at R1,587.53 ($89.5) per share, giving the group a market capitalization of R180 billion ($10.1 billion).
Mouton’s 5.78-percent stake in Capitec Bank is worth R10.6 billion ($600 million) at present market prices, making him one of the richest investors on the Johannesburg Stock Exchange.
