Subsidiaries of the Bank of Africa (BOA) in Côte d'Ivoire, Burkina Faso, and Niger are set to initiate the 2023 dividend distribution season on the regional stock exchange BRVM. Investors can anticipate a total payout of CFA36.96 billion (approximately $61 million) in net dividends from these banks.
As per the official schedule, three BOA group banks will be the first listed companies to disburse dividends to shareholders for the 2023 financial year on the BRVM. BOA Côte d'Ivoire will lead the way on April 29, distributing CFA13.68 billion ($23.09 million) in net dividends. Investors in this entity have already seen an 86.4% appreciation in their share value in 2023, with a dividend yield of 9.92%. Thanks to its strong financial fundamentals, which have been shared with the investment community, BOA CI is expected to continue the upward trend in its stock price that began early in 2024.
The BOA branch in Burkina Faso will follow on May 6 with CFA15.48 billion, corresponding to a yield of 10.1% for 2023 and a significant stock price gain of 34.5%. BOA Niger will round up the distributions on May 31 with CFA 7.8 billion.
In total, investors of these three BOA branches will receive nearly CFA37 billion ($61 million) in net dividends, part of an overall amount that has reached CFA473.6 billion when including dividend announcements from ONATEL and BOA Senegal. Despite a mixed performance in 2023, the Burkina Faso subsidiary of the Moroccan group Itissalat al-Maghrib has decided to distribute nearly all of its net profit.
Among the 14 BRVM companies that have already announced dividends, the average yield is about 8.7%, according to Ecofin Agency calculations, in addition to a cumulative stock market gain of CFA713.6 billion. Altogether, these companies have secured CFA1,187.3 billion ($1.95 billion) in confirmed gains for their investors.
It’s a common scene in any Lomé (Togo) market, but it’s telling. A customer hands a 10,000 CFA franc...
Egypt’s handset market is projected to leap from $2.5 billion in 2025 to $4.8 billion by...
Burkina Faso ends Target Malaria, a GMO mosquito project funded by the Gates Foundation. The ...
Egypt and UNECA launched a five-day workshop in Cairo to strengthen maritime tax audits and IFRS-b...
Sadot and Vodacom’s MOTI launch Africa’s first telco-powered farm-to-fork app to cut crop losses a...
Southern Africa's critical minerals are vital but underused due to systemic issues, per the WEF, DBSA, and McKinsey report. Policy uncertainty, poor...
Africa’s airlines are renewing fleets with modern jets, driving demand for advanced maintenance and repair services. The continent’s MRO market is...
Namibia has launched a national campaign to renovate dilapidated schools across all 14 regions and 121 constituencies. The initiative aims to upgrade...
Burkina Faso and Oman have signed a landmark investment agreement focusing on strategic sectors: mining, agriculture, and energy. The partnership,...
• Grand Egyptian Museum to open November 1 near Giza Pyramids• TikTok named official digital partner for live-streamed ceremony• GEM to display 100,000+...
• Brazzaville hosts first Mwassi festival for African women filmmakers• Festival offers screenings, panels, and professional training workshops• Women...