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BRVM investors reap record $1.8bn in dividends and share value gains in 2023

Thursday, 28 March 2024 17:13
BRVM investors reap record $1.8bn in dividends and share value gains in 2023

(Ecofin Agency) - The Regional Securities Exchange (BRVM) in Abidjan has seen a significant announcement of net dividends amounting to CFA400.3 billion (approximately $660 million) from nine listed companies for FY2023. The most recent disclosure came from the Burkina Faso-based Coris Bank International, offering a net dividend of CFA790 per share to its investors.

With more financial results and shareholder remuneration proposals expected in the coming days, there is anticipation that the distribution record of over CFA600 billion set in 2023 will not only be met but surpassed. The average yield of the net dividends already announced stands at an impressive 11%.

In addition to direct shareholder remuneration, there has also been a remarkable capital gain of CFA655.11 billion from the increase in share values of the involved companies in 2023. This equates to a total direct and indirect gain of CFA1,055.4 billion ($1.8 billion) for investors of these firms during the period.

Significant in the 2024 dividend scene is Orange Côte d'Ivoire's introduction to the BRVM, poised to distribute CFA117.7 billion to its shareholders in its debut distribution year. This amount is the regional exchange's second largest, following Sonatel, another Orange Group affiliate, which is expected to allocate CFA157.5 billion. However, when it comes to yield, the Moroccan Bank of Africa group banks stands out, offering a net dividend profitability of over 9%, with some entities like BOA Côte d'Ivoire experiencing an 86.4% capital gain.

Investors are now keenly awaiting dividend proposal announcements from Ecobank and NSIA Banque Côte d'Ivoire, known for their generous shareholder reward policies. It's worth noting that the trend in share value increases, as seen on the BRVM, typically indicates an upward trajectory, promising further gains for investors.



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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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