Karooooo's Cartrack subscription revenue surges as interim dividend rises

KAROOOOO reported another set of strong results for the first quarter to May 31 with the number of Cartrack subscribers increasing by 17% while the interim dividend was up by more than 15%.

- EDWARD WEST

On the JSE Wednesday morning, Karooooo’ share price shot up by 5.73% to R920, following the announcement of the results. The share price is up by over 57% over 12 months.

The interim dividend of $1.25 per ordinary share was declared versus $1.08 at the same time last year, which was paid due to the strong cash position and good earnings growth, CEO Zak Calisto said in an interview.

“We are pleased to report a strong start to the 2026 financial year highlighted by accelerating Cartrack subscription revenue growth across all regions,” he said.

In June, Calisto sold 8% of his shares, but he remains in control with a 58% shareholding and has no intention to change control, he said. “Every investor presentation I attend, they ask me about liquidity of the shares,” he said.

“We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base,” he added.