In another twist involving the public protector’s office‚ the Minister of Co-operative Governance an.
Santam shareholders will receive special dividends of R22 a share this month. As of December 13, 2007 all registered shareholders will benefit.
The announcement comes on the back of a strong set of interim financial results declared in August. From January to June this year, Santam generated an annual return on weighted average shareholders' funds of 27,4percent compared to 21,6percent for June last year.
Ian Kirk, Santam's chief executive, said the declaration of the windfall will reduce his company's solvency locally to optimum levels, as part of its ongoing capital efficiency programme.
The first shares are for staff only, as part of Santam's broad-based black economic empowerment transaction entered into earlier this year. - Isaac Moledi