Zeder Investments' net asset value per share falls after returning nearly R1bn to shareholders

ZEDER Investments, the JSE-listed company with agribusiness investments, said Thursday that net asset value per share (NAVPS( fell by 28.6% for the year to February 28 due to special dividends paid and the lower valuation of an associate investment in Turkey.

- EDWARD WEST

Zeder's NAVPS was R1.77 at the year end, or 71 cents per share lower, when compared to NAVPS of R2.48 at February 28, 2024. The share price fell by 1.4% to R1.44 on Thursday afternoon after experiencing much volatility this year in line with the general stock market, CEO Johann le Roux said in a presentation.

The company paid out an aggregate of 61 cents per share in special dividends during the past year, much higher than the 15 cents a share paid out in 2023.

Le Roux said their strategy remained to create maximum wealth for shareholders, and last year R939 million was returned to shareholders.

Although the group held just over R200m in cash, no dividends were declared for the year ended February 28 due to the uncertain macro-economic environment, but the intention was to declare further dividends at a later stage, said Le Roux.