Firm declares 7 toea dividend, 17pc better than last year

CREDIT Corporation has declared an interim dividend on ordinary shares of 7 toea per share for the 2019 financial year.
It was 6 toea for the same period last year.
A company statement said it represented an increase of 17 per cent on the last financial year.
It brings the total dividend paid this financial year to 20 toea per share. Chairman Syd Yates said the increase in dividend was attributed to improved profitability driven by growth in the finance business, an increased yield on investments and an enhanced yield on the property portfolio.
Credit Corporation delivered an operating profit of K70.7million in first half of this year, representing a 31 per cent increase on the previous corresponding period.
“While a number of economic challenges remain in the countries where we operate, we have remained focused on delivering a strong financial outcome,” Yates said. “The board and management team are keenly focused on building on this momentum through the remainder of 2019 to deliver enhanced value to shareholders and a sustainable financial future for the group.”
“We are delivering a new strategic direction which focuses on enhancing customer experience and driving efficiency gains in all facets of the group’s business.”