Namibia Post and Telecom Holdings Ltd (NPTH) yesterday declared an ordinary dividend of N$200 million to the government. Last year December the holding company declared a special dividend of N$500 million.
NPTH board chairperson, Sencia Kaizemi-Rukata, confirmed these figures on Wednesday at NPTH’s annual general meeting (AGM) in Windhoek. On 16 August 2019, NPTH donated to the drought relief programme at the Prime Minister’s Office worth N$60 million, which brings the total paid in the last two years to N$760 million.
A special dividend is a non-recurring distribution of company assets, usually in the form of cash, to shareholders, while an ordinary dividend is a share of a company’s profits passed on to the shareholders periodically.
For the financial year ended September 2019, the company’s revenue amounted to N$603 million. According to Kaizemi-Rukata, the main sources were dividends received which amounted to N$427 million, and rental income of N$175 million. The NPTH group as a whole generated total revenue of N$4.3 billion.
The chair further stated that the group incurred total operating expenses of N$193 million, a reduction from the N$397 million incurred in the previous year when the company generated a profit of N$540 million.
As of the group, total operational expenses spent were N$3.4 billion. Overall, the group recorded a net profit of N$911 million for the 2019 financial year.
“NPTH generates revenue of approximately N$148 million annually from various revenue streams excluding dividends received from subsidiaries. The company has a default rate of less than 10% from its property management and administration revenue stream,” stated the board chairperson.
According to her, NPTH has since inception to date declared a total dividend of N$2 billion to the government.
Kaizemi-Rukata said NPTH owns 123 properties countrywide, of which 99 were acquired through government grants and the remaining 24 were privately acquired. NPTH is one of the largest property owners in Namibia. Overall, it had a total asset base of N$4 billion and a total group asset with a net book value of N$12.5 billion as of 30 September 2019.
NPTH is the 100% holding company of Telecom Namibia Limited (Telecom), Namibia Post Limited (Nampost), and Mobile Telecommunication Ltd (MTC).