Dividend payouts by BRVM stocks hit $1.1bn as telcos lead the pack
TLDR
- Companies listed on BRVM distributed 654.7 billion FCFA ($1.1 billion) in dividends for 2023, led by telecom firms.
- Turnover for listed companies increased to 9,304.5 billion FCFA, up by 5.74% from 2022, with Sonatel achieving the highest turnover.
- The net profit for BRVM companies grew by 6%, reaching 1,291.8 billion FCFA in 2023, with Sonatel notably gaining 52.8 billion FCFA in profit.
Dividend payouts by companies listed on the Bourse Régionale des Valeurs Mobilières (BRVM) reached 654.7 billion FCFA ($1.1 billion) for 2023, with telecom companies leading the increase.
Overall, the turnover or revenues for listed firms rose to 9,304.5 billion FCFA, a 5.74% increase from 2022. Sonatel, the top performer, achieved the highest turnover of 1,620.7 billion FCFA, marking a significant increase of 165.7 million FCFA.
The consolidated net profit for BRVM companies grew by 6%, from 1,222.7 billion FCFA in 2022 to 1,291.8 billion FCFA in 2023. Sonatel also saw the largest profit gain of 52.8 billion FCFA. Dividends distributed increased from 611.2 billion FCFA in 2022, a 7% rise. Notable increases came from Nei Ceda CI and BOA Mali, significantly rewarding their shareholders.
Key Takeaways
The BRVM, alongside other African stocks, offers some of the best dividend yields in emerging markets, attracting investors seeking high returns. These markets are known for their relatively high dividend payouts, as seen with BRVM’s recent $1.1 billion in dividends. Also, African stocks are often undervalued, trading at lower price-to-earnings (P/E) multiples compared to other emerging markets. This combination of high dividend yields and attractive valuations makes African stocks a compelling investment option. In addition, portfolio optimization through dividends is a powerful strategy for investors seeking to generate passive income and potentially mitigate risks on African stock exchanges. By using the Daba platform, you can take advantage of this technique and access attractive investment opportunities.
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