Five things making headlines in South Africa today

Investec Property Fund increases dividend, Mettle Investments to list on the AltX, unemployment figures steady, Transnet has a new interim board, and SABC and MultiChoice clash over payments.
MultiChoice SA CEO Calvo Mawela calls for amendment to must carry regulations. Picture: Moneyweb

Here’s what caught our attention on Tuesday:

1. Investec Property fund increases DPS 

For the financial year ended, March 31 2018, Investec Property Fund reported an 8.5% increase in dividends per share of 138.45 cents per share, for the full year. Additionally it reported a 21.5% return to shareholders, up from 19.1% last year. The investment portfolio has diversified, with 88.3% local and 11.7% offshore investments.

2. Mettle Investments’ pre-listing statement

Tradehold is to separately list Mettle Investments on the Alternative Exchange of the JSE on May 23 2018. Tradehold will distribute 247 174 375 ordinary shares in Mettle Investments to its shareholders on the basis of one Mettle Investments share for every one Tradehold share held.

3. Unemployment figures

South Africa’s unemployment figures for the first quarter of 2018 remained steady at 26.7%, compared with the fourth quarter of 2017. Previously, unemployment figures were at 27.7%. According to StatsSA, there were 6.0 million people without jobs in the first three months of 2018, ending March. 

4. Transnet’s new interim board

Minister of Public Enterprises, Pravin Gordhan appointed a new interim board to state-owned freight company Transnet, on Monday. ANC veteran Popo Molefe has been appointed as chairman of the interim board. Gordhan has removed three board members.

5. DStv boss refuses to pay for SABC

South African Broadcasting Corporation (SABC) wants DStv, StarSat and others to pay to carry SABC 1, 2 and 3 on their platforms. The CEO of MultiChoice SA Calvo Mawela said he ‘fails to comprehend the logic of the SABC’, as it demands payment to carry its channels. Mawela said ‘must-carry regulations must be amended or scrapped’. The SABC’s Chris Maroleng said during public hearings last week, that MultiChoice and other platforms that want to carry the ‘free-to-air’ SABC channels are unfair, TechCentral reported.

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